New Delhi: In a bid to capture the mass rural market share, two-wheeler manufacturer Honda Motorcycle and Scooter India (HMSI) today launched its second 110 cc bike - Dream Yuga priced at Rs.44,642 (ex-Showroom, Delhi).
The bike is powered by a 110 cc engine which is able to deliver 8.5 BHP at the rate of 7,500 rotations per minute (RPM) coupled with a mileage of 72 km per litre.
The company said that the engine also comes with a new technology - 'Honda intelligent ignition control system' which changes ignition timings to attain ideal combustion, leading to improved power output and efficiency.
"Entering a new era, Honda is committed to serve two-wheeler customers across every segment in India. We are confident that Dream Yuga will be huge success and create a new benchmark for mass mobility in India," said Yadvinder S. Guleria, vice president, sales and marketing, HMSI.
"In line with its development concept of a "true India specific mass motorcycle", Dream Yuga at its attractive price is ideal for those who desire a robust, reliable, easy to maintain, highly fuel efficient yet stylish bike".
Officials with HMSI said they are optimistic of selling around three lakh units of the motorcycle in the current fiscal.
The company already sells another 110 cc bike CB Twister which was launched in late 2010 priced at close to Rs.45,000. The bike has received an average sales response of just 12,000 units per month.
"The Twister is aimed at the urban customer. While the Dream Yuga is imed more at the rural customer. We plan to sell 300,000 units of Dream Yuga during 2012-13," Guleria said.
The bike will face tough competition from industry leaders in sales like Passion and Discover which have on average sell more than a million units each year.
The company has also increased its sales outlook for the fiscal by 30 percent including those of scooters and will stand at 2.85 million from 2.2 million sold in the last fiscal.
On the revenue share of its Indian operations in the company's globe kitty, top company official said was around 13 percent and is expected to rise by 30 percent.
"At the moment, India's share is 13 percent (to global overall Honda revenues). We expect it to increase to 30 percent by 2020," said Keita Muramatsu, president and chief executive, HMSI adding that he expected the company to become the largest two-wheeler manufacturer in India.
The two-wheeler manufacture further said that it also plans to launch another 100 cc bike aimed at capturing the mass market segment in India. However, the company did not divulge any details of its price or the launch time.
The company also launched its new new corporate direction and signed on to Akshay Kumar as its brand ambassador.
"The new corporate direction is a step forward towards Honda's objective to attain leadership position in India," Muramatsu said.
source:agency
20120515
German luxury car maker Mercedes-Benz launched its third generation sports utility vehicle M-Class
New Delhi: German luxury car maker Mercedes-Benz today launched its third generation sports utility vehicle M-Class priced at Rs.56.9 lakh (ex-showroom Delhi).
"At the start of this year, we had promised to introduce exciting new models into the market. We are proud to present today the new M-Class," Peter Honegg, managing director and chief executive, Mercedes-Benz, said.
"We are confident that the quality drive and the luxurious experience it can deliver will be a big hit with the customers and it will be warmly received," he said.
The off-roader comes with technologies such as customised settings for engine performance, automatic transmission, anti-lock braking system, electronic stability programme and electronic traction system.
The company has so far sold 1,500 units of the vehicle, launched in 2008, in the country. The latest model has a price cut of nearly 15 percent from its previous editions and will take on BMW X5 and Audi Q5.
Another variant of the new vehicle, the AMG edition of 100 units, priced at Rs.66 lakh (ex-showroom Delhi) was completely sold off through pre-bookings even before the launch.
According to Honegg, the company expects a boost in sales after the launch of compact segment brands such as A-Class and B-Class enters the market. He, however, did not divulge any price details or the launch time of the vehicles.
"We expect to become number luxury sellers of luxury cars in India by 2020, the growth will get a boost when the compact models enter the Indian market," he said.
The company sold around 7,500 units in 2011, which was a growth of 30 percent over 2010, but in 2012, it expects to grow at a much slower pace of 20 percent due to the existing market environment.
Mercedes-Benz was the second-largest luxury car seller in 2011 with sales of around 7,500 units. The market was led by BMW with sales of over 9,400 cars. Audi was the third-largest seller with 5,511 units.
source:agency
"At the start of this year, we had promised to introduce exciting new models into the market. We are proud to present today the new M-Class," Peter Honegg, managing director and chief executive, Mercedes-Benz, said.
"We are confident that the quality drive and the luxurious experience it can deliver will be a big hit with the customers and it will be warmly received," he said.
The off-roader comes with technologies such as customised settings for engine performance, automatic transmission, anti-lock braking system, electronic stability programme and electronic traction system.
The company has so far sold 1,500 units of the vehicle, launched in 2008, in the country. The latest model has a price cut of nearly 15 percent from its previous editions and will take on BMW X5 and Audi Q5.
Another variant of the new vehicle, the AMG edition of 100 units, priced at Rs.66 lakh (ex-showroom Delhi) was completely sold off through pre-bookings even before the launch.
According to Honegg, the company expects a boost in sales after the launch of compact segment brands such as A-Class and B-Class enters the market. He, however, did not divulge any price details or the launch time of the vehicles.
"We expect to become number luxury sellers of luxury cars in India by 2020, the growth will get a boost when the compact models enter the Indian market," he said.
The company sold around 7,500 units in 2011, which was a growth of 30 percent over 2010, but in 2012, it expects to grow at a much slower pace of 20 percent due to the existing market environment.
Mercedes-Benz was the second-largest luxury car seller in 2011 with sales of around 7,500 units. The market was led by BMW with sales of over 9,400 cars. Audi was the third-largest seller with 5,511 units.
source:agency
Suzuki Motor Corporation said it is looking at the possibility of making India an export hub
Kolkata: Japanese two-wheeler major Suzuki Motor Corporation today said it is looking at the possibility of making India an export hub.
"We have recently started exports (of two-wheelers) from India to Nepal and Columbia...we will definitely take it forward," Anu Anamika, Suzuki Motorcycle India national head (Marketing), told reporters here.
Suzuki Motorcycle India is a wholly-owned subsidiary of Suzuki Motor Corporation.
"We have started in a small way end of last year to export products to Nepal and Columbia, and possibly we will add on more countries to take it forward. There can be a possibility of looking India as a hub for two-wheeler export," she said.
Anamika declined to divulge any details. "The plan is not detailed out as of now."
She was in the city to launch 'Hayate', the company's first motorcycle in the mass segment.
The company, which has an objective to have a product in possibly every target segment in the Indian two-wheeler market by end of fiscal year 2014-15, is planning to add two more models into its current product portfolio of five.
"We are looking at taking this portfolio to maybe seven by 2014," she said.
Suzuki, which stated its operation in India in 2006, has two 125 cc scooters - Access and Swish.
Asked whether the company will have more products in the mass segment, she said: "It will depend on how things go. As of now we have one product in the category and we are looking at 10,000 per month numbers at the starting. As we move on we need to launch more…we are looking at this segment seriously."
The mass segment is 62 percent of India's two-wheeler market.
Currently, the company enjoys 22 percent market share in scooters segment and 2 percent in the motorbike segment. It is eyeing 8 percent and 10 percent cumulative market share by 2014 and 2015.
source:agency
"We have recently started exports (of two-wheelers) from India to Nepal and Columbia...we will definitely take it forward," Anu Anamika, Suzuki Motorcycle India national head (Marketing), told reporters here.
Suzuki Motorcycle India is a wholly-owned subsidiary of Suzuki Motor Corporation.
"We have started in a small way end of last year to export products to Nepal and Columbia, and possibly we will add on more countries to take it forward. There can be a possibility of looking India as a hub for two-wheeler export," she said.
Anamika declined to divulge any details. "The plan is not detailed out as of now."
She was in the city to launch 'Hayate', the company's first motorcycle in the mass segment.
The company, which has an objective to have a product in possibly every target segment in the Indian two-wheeler market by end of fiscal year 2014-15, is planning to add two more models into its current product portfolio of five.
"We are looking at taking this portfolio to maybe seven by 2014," she said.
Suzuki, which stated its operation in India in 2006, has two 125 cc scooters - Access and Swish.
Asked whether the company will have more products in the mass segment, she said: "It will depend on how things go. As of now we have one product in the category and we are looking at 10,000 per month numbers at the starting. As we move on we need to launch more…we are looking at this segment seriously."
The mass segment is 62 percent of India's two-wheeler market.
Currently, the company enjoys 22 percent market share in scooters segment and 2 percent in the motorbike segment. It is eyeing 8 percent and 10 percent cumulative market share by 2014 and 2015.
source:agency
Trivone Digital Services has acquired two more niche portals in entertainment and automobile segments
Bangalore: Emerging digital media and content firm Trivone Digital Services has acquired two more niche portals in entertainment and automobile segments for an unspecified amount to diversify its presence in the web world.
"The acquisition of entertainment portal chakpak.com and automobile portal wheelsunplugged.com in diverse verticals will spread our presence in the digital media landscape," Trivone Chief Executive L. Subramanyan said that in a statement here today.
Foraying into the digital media space in 2011, the city-based venture capital funded start-up acquired rights to manage three information technology (IT) portals --techtree.com, channeltimes.com and cxotoday.com -- from UTV, the Mumbai-based integrated media and entertainment firm.
"We will invest in chakpak brand to position it as a leading entertainment destination for south Indian movies, while wheels unplugged will be flagged as a one-stop information portal in the automobile sector," Subramanyan said, but did not specify the proposed investment in the new portals.
As a premier manager of niche portals, Trivone plans to leverage content to build digital media properties and offer managed services to clients in diverse verticals by creating, sourcing and packaging content for online delivery to a cross-section of enterprise customers.
"We see space in the online entertainment media market. Our investments will go in building a community around chakpak and wheelsunplugged to make them a leading online destination for information on entertainment and automobiles," the executive said.
Global venture capital firm Accel Partners invested in the company for a strategic equity stake for an unspecified amount.
source:agency
"The acquisition of entertainment portal chakpak.com and automobile portal wheelsunplugged.com in diverse verticals will spread our presence in the digital media landscape," Trivone Chief Executive L. Subramanyan said that in a statement here today.
Foraying into the digital media space in 2011, the city-based venture capital funded start-up acquired rights to manage three information technology (IT) portals --techtree.com, channeltimes.com and cxotoday.com -- from UTV, the Mumbai-based integrated media and entertainment firm.
"We will invest in chakpak brand to position it as a leading entertainment destination for south Indian movies, while wheels unplugged will be flagged as a one-stop information portal in the automobile sector," Subramanyan said, but did not specify the proposed investment in the new portals.
As a premier manager of niche portals, Trivone plans to leverage content to build digital media properties and offer managed services to clients in diverse verticals by creating, sourcing and packaging content for online delivery to a cross-section of enterprise customers.
"We see space in the online entertainment media market. Our investments will go in building a community around chakpak and wheelsunplugged to make them a leading online destination for information on entertainment and automobiles," the executive said.
Global venture capital firm Accel Partners invested in the company for a strategic equity stake for an unspecified amount.
source:agency
India is exploring possibilities of entering into free trade pacts with regional groupings of African countries
New Delhi: India is exploring possibilities of entering into free trade pacts with regional groupings of African countries such as the 19-nation Common Market for Eastern and Southern Africa (COMESA), Minister of State for Commerce and Industry Jyotiraditya Scindia said today.
"A joint working group has been constituted with COMESA for examining the feasibility of a free trade agreement or preferential trade agreement between India and COMESA," Scindia said at an event organised by the Confederation of Indian Industry (CII) here.
COMESA is the largest regional grouping in Africa comprising of 19 countries including Egypt, Ethiopia, Kenya, Mauritius, Sudan and Zimbabwe.
"We are exploring possibilities of entering into such agreements with other African regional economic communities like the East Africa Community and Economic Community of West African States (ECOWAS)," Scindia said.
He said India was holding negotiations also with the Southern African Customs Union for a preferential trade agreement covering trade in goods.
Forged in 1910, the five-member Southern African Customs Union (SACU) comprising South Africa, Botswana, lesotho, Namibia and Swaziland, is the world's oldest customs union.
Scindia said India was also negotiating a comprehensive economic cooperation and partnership agreement with Mauritius. The deal will cover trade in goods, services and investment.
The minister said India has already signed 10 free trade agreements and seven more such agreements are under consideration. Five limited-scope preferential trade agreements are also in the process.
"When completed, such agreements would cover over a hundred countries spread across five continents."
Scindia said India was focusing on trade pacts with Africa and latin America in order to diversify exports markets.
"A market diversification strategy based on the changing dynamics of growth in the world economy is necessary to ensure sustained growth of exports. The demand in traditional markets of the developed western world, North America and Europe is projected to be relatively sluggish due to slowing output expansion in these economies," he said.
India targets to increase exports to $500 billion by 2014 as compared to $303.7 billion in fiscal 2011-12.
The minister said much of the growth in India's exports would come from the developing countries from Asia, Africa and Latin America.
source:agecny
"A joint working group has been constituted with COMESA for examining the feasibility of a free trade agreement or preferential trade agreement between India and COMESA," Scindia said at an event organised by the Confederation of Indian Industry (CII) here.
COMESA is the largest regional grouping in Africa comprising of 19 countries including Egypt, Ethiopia, Kenya, Mauritius, Sudan and Zimbabwe.
"We are exploring possibilities of entering into such agreements with other African regional economic communities like the East Africa Community and Economic Community of West African States (ECOWAS)," Scindia said.
He said India was holding negotiations also with the Southern African Customs Union for a preferential trade agreement covering trade in goods.
Forged in 1910, the five-member Southern African Customs Union (SACU) comprising South Africa, Botswana, lesotho, Namibia and Swaziland, is the world's oldest customs union.
Scindia said India was also negotiating a comprehensive economic cooperation and partnership agreement with Mauritius. The deal will cover trade in goods, services and investment.
The minister said India has already signed 10 free trade agreements and seven more such agreements are under consideration. Five limited-scope preferential trade agreements are also in the process.
"When completed, such agreements would cover over a hundred countries spread across five continents."
Scindia said India was focusing on trade pacts with Africa and latin America in order to diversify exports markets.
"A market diversification strategy based on the changing dynamics of growth in the world economy is necessary to ensure sustained growth of exports. The demand in traditional markets of the developed western world, North America and Europe is projected to be relatively sluggish due to slowing output expansion in these economies," he said.
India targets to increase exports to $500 billion by 2014 as compared to $303.7 billion in fiscal 2011-12.
The minister said much of the growth in India's exports would come from the developing countries from Asia, Africa and Latin America.
source:agecny
Ethiopia has liberalised norms and is keen to attract more Indian investments
New Delhi: Ethiopia has liberalised norms and is keen to attract more Indian investments in the sectors like pharmaceuticals, agriculture, textiles and food processing, Ethiopian ambassador to India Gennet Zewide said today.
Zewide said Ethiopia has already attracted almost $5 billion worth of Indian investments.
"We want more Indian investments. For foreign investments, we have identified the sectors like pharmaceuticals, textiles and food processing," Zewide said at an event organised by the Confederation of Indian Industry (CII) here.
She pointed out that India is an important global player in the sectors like pharmaceuticals and textiles. "Ethiopia looks for your knowhow and capital," she said.
Zewide said Indian investments in Ethiopia have increased sharply in the last six-seven years, mainly due to favourable policies and prospects of high returns.
Until 2004-05, Indian investments in Ethiopia totaled only around $300 million. These have now risen to $5 billion.
Zewide said India's economic engagement with African countries has improved significantly in the recent years.
"Indian businesses are now feeling more confident to come to Africa," she said.
source:agency
Zewide said Ethiopia has already attracted almost $5 billion worth of Indian investments.
"We want more Indian investments. For foreign investments, we have identified the sectors like pharmaceuticals, textiles and food processing," Zewide said at an event organised by the Confederation of Indian Industry (CII) here.
She pointed out that India is an important global player in the sectors like pharmaceuticals and textiles. "Ethiopia looks for your knowhow and capital," she said.
Zewide said Indian investments in Ethiopia have increased sharply in the last six-seven years, mainly due to favourable policies and prospects of high returns.
Until 2004-05, Indian investments in Ethiopia totaled only around $300 million. These have now risen to $5 billion.
Zewide said India's economic engagement with African countries has improved significantly in the recent years.
"Indian businesses are now feeling more confident to come to Africa," she said.
source:agency
RICS - Vestian Study highlights need to raise safety & security standards of IT Parks in India
Bengaluru, Karnataka-- The Royal Institution of Chartered Surveyors (RICS) and Vestian Global Workplace Services have released a PAN India in-depth study 'Assessment of IT campus environments'.
The study is an effort to evaluate the working environment of IT campuses in the country and enlighten the sector on the changing dynamics of workplace atmosphere to improve operational performance as well as provide future trends.
The broad objectives of the Study includes evaluating existing IT Campuses on parameters such as basic amenities, planning highlights, safety & security, operations & maintenance (O&M) and innovation; establishing occupier preference levels and investigating economic performance. This data was collected across 250+ points and 15 renowned IT/ITes campuses across India willingly participating in this first of a kind initiative.
On this occasion, Sachin Sandhir, Managing Director, RICS South Asia said - "As the leading global body for real estate and construction, we are about advancing best practice standards which guarantee consistency for clients in multiple markets. This report is an endeavor to educate the developers and occupiers in IT/ITES space to work towards the best workplace environment matching global standards.
Safety standards and disaster preparedness are key issues that we are raising at a global level, by promoting a disaster management protocol as well as global standards on strategic facilities management (FM). To implement high standards, the skills of the professionals who are driving corporate real estate as well as facilities management will also need to be enhanced and RICS hopes to contribute in this area.
Given that commercial real estate is a heavy user of energy, and the gap between power demanded and consumed by tenants (as demonstrated by this study), post occupancy evaluation at periodic intervals is the need of the hour."
Speaking at the launch of the report, Mr. Shrinivas Rao, CEO-Asia Pacific, Vestian Global said, "India is one of the fastest growing economies in the world; with services sector leading the growth. By 2015, IT and ITes sector is expected to contribute 7% to India's GDP. Considering 70-75% of the total real estate absorption is by this sector, we decided to review the current workplace environment and evaluate where we stand vis a vis the global standards. The idea was to put forward a comprehensive report which looks at the overall picture and identifies areas which need to be improved upon. We hope that with this effort we can help educate the various stakeholders involved; and contribute at each and every step of the life cycle of the development. We hope to contribute towards raising the bar for the industry."
Key findings of the report - highlighting several issues along with recommended soultions
Key issues / Areas of Improvement
Recommended Solutions
Preparedness to combat terror threat
* It is observed that limited effort being made towards safeguarding our campuses from terror threat.
* Moreover, installation of expensive terror combating features does not necessarily add economic value to the IT Park
* First, we should improvise human efficiency in order to utilize current systems effectively.
* For future improvements, collective effort from developers & occupiers is required to drive the change in this aspect.
* Occupiers need to be open to share cost component, if required.
Disaster Management
* Currently, availability of Safety Plan & Training programs (to implement safety plan) is not the strength of the industry.
* It is observed fire drills are not conducted regularly, as prescribed in the NBC (Once every 3 months for up to 2 years old buildings and once every 6 months for building older than 2 years)
* Developers & Occupiers need to make a joint effort towards this. Safety & Training programs on disaster management techniques should be made mandatory & conducted at periodic intervals.
* Individuals (users) need to be disciplined during fire drills and education of disaster management.
3rd Party Vendor for FM Services
* Most of the developers rely on in-house or hybrid model for FM services; only 20% of the participating parks rely on 3rd party vendors for FM operations.Popularity of using/ employing 3rd party vendors for FM operations will rise in future with further expansion of this IT campuses and enhancement of transparency in real estate sector.
* Increased availability of specialized 3rd party vendors.
* Communication benefits of using 3rd party vendors for FM services to developers
Accommodation of Physically Challenged people needs in building design
* The building design across the IT Campuses is not 100% compliant to "The Persons with Disabilities Act, 1995". Aspects such as dedicated parking space for physically challenged people, lifts supporting their requirements, antiskid material on floor, etc have been found somewhat lacking.
* Occupiers need to give more weightage to this subject during site selection phase.
* Developer need to accommodate all required building design features as per the Act.
IT Campus specific building design requirements
* Building infrastructure and services for IT campuses are designed on the basis of occupancy load of 1 person every100 sqft (recommendation by NBC) but especially for ITeS/ BPO functions space requirement is around 60-70 sqft/person. This occupancy load difference tends to increase pressure on the building infrastructure and services.
* Few NBC guidelines like Compartmentation (All floors shall be compartmented with area not exceeding 750 m2 by a separation wall with 2 h fire rating; for floor with sprinklers the area can be increased by 50%) cannot be implemented in IT campuses because IT/ITes function require large floor plates.
* One needs to understand the target segment (percentage mix of IT and ITeS functions) for the IT campus and decide occupancy load accordingly.
* In order to ensure full compliance to NBC guidelines for technology space, we may require few changes in NBC.
* IT/ITeS sector should have a separate classification as technology parks under commercial buildings in NBC with guidelines that cater to this sector.
Provision of car parking space
* In 1990s, provision of car park space used to be 1 per 1500 sqft but currently at 1 per 850 sqft/ 1 per 1000 sqft. Few occupiers' expectations are as high as 1per 500 sqft. This is not sustainable in long term.
* Provision and improvisation of mass transit systems only sustainable solution
* Occupiers should discourage their employees for using private vehicles
* Developers and local Government need to be partner for provision of bus services to the campuses
Power Requirements
* As per Occupier Preference Survey, minimum power required for operation is 0.75 - 1.00 kVA/100 sqft. However, over 50% of the occupier consume 0.5 - 0.75 kVA /100 sqft.
* Occupiers need to conduct surveys and evaluate their power requirements based on their usage pattern.
Redundancy Levels for DG (Power Back-up systems)
* 50% & 40% of the Occupiers prefer N+1 & N+N respectively redundancy levels for DG but currently, 40% & 50% IT campuses parks are proving N & N+1 redundancy levels.
* Government needs to improve electricity provision to IT campuses.
* In future, developers of large IT campuses need to evaluate feasibility of developing captive power plants (if possible through using renewable energy sources).
A summary of key trends and findings from tenant satisfaction surveys is given below.
Expected Trends in Future:
First decade (1991 - 2000) of IT sector growth period witnessed establishment of basic physical infrastructure to support IT/ITeS functions, the next decade (2001 -2010) improvised this and established support social and business infrastructure for IT developments.
During current decade (2011 - 2020), we expect following trends in design & operations of IT campuses:
* Further improvisation of social & business infrastructure in IT campuses and rise in percentage of development of integrated IT developments/townships
* Enhancement of efficiency in building operations and systems through
o rise in adoption of green certification
o increased collaboration between developers and occupiers
o rise in adoption of Specialized/ 3rd Party FM service providers
o adopt sustainable transport infrastructure and systems (MRTS, buses, etc)
o conduct Post Occupancy Evaluation (POE) to improvise space utilization, communication between occupiers and developers, building services and others.
About the 'RICS- Vestian Global study - Assessment of IT Park Environs'
The study is aimed at helping IT campuses / parks to provide comfortable, secure and environmentally sensitive workplace. Towards this end, following aspects were evaluated
* Main study parameters - basic facilities, planning highlights, safety & security, innovation (environment friendliness) operation & maintenance and occupier's satisfaction levels
* Sub-parameters: Social & Business Infrastructure (Basic Amenities); Grade of Buildings (Planning Highlight); LEED certification (Innovation); Average annual absorption & Vacancy rate for last 2 years (Market Dynamics); Developer reputation, age and size (Building Features)
* Establishing occupier satisfaction and preference levels
* Investigating relationship between arrived rating and economic performance of the campuses
Research Methodology
* 250 attributes were identified for the Study
* Use of weighted matrix of pre-defined parameters, benchmarked (wherever applicable) against National Building Code (NBC) 2005 (India), Indian Disability Act 1988, Bureau of Energy Efficiency (BEE) and other industry standards, for rating IT parks
* Comprehensive questionnaire / personal interview helped collect date from the Developer / Developer's representative / FM head of IT Parks
* Tenant's satisfaction & preference levels gauged through online questionnaire / personal interviews
* Principal Component Analysis (PCA) was used as a data reduction tool
* Economic Analysis and Statistical Tools and Techniques were used
List of participating IT parks
1. 247 IT Park - Mumbai
2. Adarsh Tech Park - Bangalore
3. BPTP Park Centra - Gurgaon
4. Embassy Golf Links - Bangalore
5. Embassy Techzone - Pune
6. EON Free Zone - Pune
7. Green Boulevard - Noida
8. IBC Knowledge Park - Bangalore
9. Manyata Embassy Business Park - Bangalore
10. Prestige Tech Park - Bangalore
11. Salarpuria GR Tech Park - Bangalore
12. Salarpuria Softzone - Bangalore
13. SJRI Park - Bangalore
14. Technopark - Trivandrum
15. Velankani IT Park - Bangalore
About Royal Institution of Chartered Surveyors (RICS)
RICS is the world's leading self regulatory professional body for qualifications and standards land, property, construction and associated environment issues.
In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism.
Over 170 000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members.
RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity - providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector. Visit www.rics.org/india
About Vestian Global Workplace Services
Vestian Global Workplace Services is a wholly owned subsidiary of Vestian Group Inc, a macro economic fund, headquartered out of Chicago, USA. The company is an end user focused real estate services provider. Established in 2010, the Vestian Global service platform has been designed in response to contemporary needs of end‐users across emerging markets. The company is led by a set of senior industry professionals, who have several years of rich and trend‐setting experience across the spectrum of professional real estate services. The teams, processes and focused approach to integrated and effective service provision has seen company successfully implement its model in India and China. This has helped to build a strong track record and client base across these markets, comprising blue‐chip multinational and local corporations. In India the offices are in Bangalore, Chennai, Hyderabad Mumbai and New Delhi.
The study is an effort to evaluate the working environment of IT campuses in the country and enlighten the sector on the changing dynamics of workplace atmosphere to improve operational performance as well as provide future trends.
The broad objectives of the Study includes evaluating existing IT Campuses on parameters such as basic amenities, planning highlights, safety & security, operations & maintenance (O&M) and innovation; establishing occupier preference levels and investigating economic performance. This data was collected across 250+ points and 15 renowned IT/ITes campuses across India willingly participating in this first of a kind initiative.
On this occasion, Sachin Sandhir, Managing Director, RICS South Asia said - "As the leading global body for real estate and construction, we are about advancing best practice standards which guarantee consistency for clients in multiple markets. This report is an endeavor to educate the developers and occupiers in IT/ITES space to work towards the best workplace environment matching global standards.
Safety standards and disaster preparedness are key issues that we are raising at a global level, by promoting a disaster management protocol as well as global standards on strategic facilities management (FM). To implement high standards, the skills of the professionals who are driving corporate real estate as well as facilities management will also need to be enhanced and RICS hopes to contribute in this area.
Given that commercial real estate is a heavy user of energy, and the gap between power demanded and consumed by tenants (as demonstrated by this study), post occupancy evaluation at periodic intervals is the need of the hour."
Speaking at the launch of the report, Mr. Shrinivas Rao, CEO-Asia Pacific, Vestian Global said, "India is one of the fastest growing economies in the world; with services sector leading the growth. By 2015, IT and ITes sector is expected to contribute 7% to India's GDP. Considering 70-75% of the total real estate absorption is by this sector, we decided to review the current workplace environment and evaluate where we stand vis a vis the global standards. The idea was to put forward a comprehensive report which looks at the overall picture and identifies areas which need to be improved upon. We hope that with this effort we can help educate the various stakeholders involved; and contribute at each and every step of the life cycle of the development. We hope to contribute towards raising the bar for the industry."
Key findings of the report - highlighting several issues along with recommended soultions
Key issues / Areas of Improvement
Recommended Solutions
Preparedness to combat terror threat
* It is observed that limited effort being made towards safeguarding our campuses from terror threat.
* Moreover, installation of expensive terror combating features does not necessarily add economic value to the IT Park
* First, we should improvise human efficiency in order to utilize current systems effectively.
* For future improvements, collective effort from developers & occupiers is required to drive the change in this aspect.
* Occupiers need to be open to share cost component, if required.
Disaster Management
* Currently, availability of Safety Plan & Training programs (to implement safety plan) is not the strength of the industry.
* It is observed fire drills are not conducted regularly, as prescribed in the NBC (Once every 3 months for up to 2 years old buildings and once every 6 months for building older than 2 years)
* Developers & Occupiers need to make a joint effort towards this. Safety & Training programs on disaster management techniques should be made mandatory & conducted at periodic intervals.
* Individuals (users) need to be disciplined during fire drills and education of disaster management.
3rd Party Vendor for FM Services
* Most of the developers rely on in-house or hybrid model for FM services; only 20% of the participating parks rely on 3rd party vendors for FM operations.Popularity of using/ employing 3rd party vendors for FM operations will rise in future with further expansion of this IT campuses and enhancement of transparency in real estate sector.
* Increased availability of specialized 3rd party vendors.
* Communication benefits of using 3rd party vendors for FM services to developers
Accommodation of Physically Challenged people needs in building design
* The building design across the IT Campuses is not 100% compliant to "The Persons with Disabilities Act, 1995". Aspects such as dedicated parking space for physically challenged people, lifts supporting their requirements, antiskid material on floor, etc have been found somewhat lacking.
* Occupiers need to give more weightage to this subject during site selection phase.
* Developer need to accommodate all required building design features as per the Act.
IT Campus specific building design requirements
* Building infrastructure and services for IT campuses are designed on the basis of occupancy load of 1 person every100 sqft (recommendation by NBC) but especially for ITeS/ BPO functions space requirement is around 60-70 sqft/person. This occupancy load difference tends to increase pressure on the building infrastructure and services.
* Few NBC guidelines like Compartmentation (All floors shall be compartmented with area not exceeding 750 m2 by a separation wall with 2 h fire rating; for floor with sprinklers the area can be increased by 50%) cannot be implemented in IT campuses because IT/ITes function require large floor plates.
* One needs to understand the target segment (percentage mix of IT and ITeS functions) for the IT campus and decide occupancy load accordingly.
* In order to ensure full compliance to NBC guidelines for technology space, we may require few changes in NBC.
* IT/ITeS sector should have a separate classification as technology parks under commercial buildings in NBC with guidelines that cater to this sector.
Provision of car parking space
* In 1990s, provision of car park space used to be 1 per 1500 sqft but currently at 1 per 850 sqft/ 1 per 1000 sqft. Few occupiers' expectations are as high as 1per 500 sqft. This is not sustainable in long term.
* Provision and improvisation of mass transit systems only sustainable solution
* Occupiers should discourage their employees for using private vehicles
* Developers and local Government need to be partner for provision of bus services to the campuses
Power Requirements
* As per Occupier Preference Survey, minimum power required for operation is 0.75 - 1.00 kVA/100 sqft. However, over 50% of the occupier consume 0.5 - 0.75 kVA /100 sqft.
* Occupiers need to conduct surveys and evaluate their power requirements based on their usage pattern.
Redundancy Levels for DG (Power Back-up systems)
* 50% & 40% of the Occupiers prefer N+1 & N+N respectively redundancy levels for DG but currently, 40% & 50% IT campuses parks are proving N & N+1 redundancy levels.
* Government needs to improve electricity provision to IT campuses.
* In future, developers of large IT campuses need to evaluate feasibility of developing captive power plants (if possible through using renewable energy sources).
A summary of key trends and findings from tenant satisfaction surveys is given below.
Expected Trends in Future:
First decade (1991 - 2000) of IT sector growth period witnessed establishment of basic physical infrastructure to support IT/ITeS functions, the next decade (2001 -2010) improvised this and established support social and business infrastructure for IT developments.
During current decade (2011 - 2020), we expect following trends in design & operations of IT campuses:
* Further improvisation of social & business infrastructure in IT campuses and rise in percentage of development of integrated IT developments/townships
* Enhancement of efficiency in building operations and systems through
o rise in adoption of green certification
o increased collaboration between developers and occupiers
o rise in adoption of Specialized/ 3rd Party FM service providers
o adopt sustainable transport infrastructure and systems (MRTS, buses, etc)
o conduct Post Occupancy Evaluation (POE) to improvise space utilization, communication between occupiers and developers, building services and others.
About the 'RICS- Vestian Global study - Assessment of IT Park Environs'
The study is aimed at helping IT campuses / parks to provide comfortable, secure and environmentally sensitive workplace. Towards this end, following aspects were evaluated
* Main study parameters - basic facilities, planning highlights, safety & security, innovation (environment friendliness) operation & maintenance and occupier's satisfaction levels
* Sub-parameters: Social & Business Infrastructure (Basic Amenities); Grade of Buildings (Planning Highlight); LEED certification (Innovation); Average annual absorption & Vacancy rate for last 2 years (Market Dynamics); Developer reputation, age and size (Building Features)
* Establishing occupier satisfaction and preference levels
* Investigating relationship between arrived rating and economic performance of the campuses
Research Methodology
* 250 attributes were identified for the Study
* Use of weighted matrix of pre-defined parameters, benchmarked (wherever applicable) against National Building Code (NBC) 2005 (India), Indian Disability Act 1988, Bureau of Energy Efficiency (BEE) and other industry standards, for rating IT parks
* Comprehensive questionnaire / personal interview helped collect date from the Developer / Developer's representative / FM head of IT Parks
* Tenant's satisfaction & preference levels gauged through online questionnaire / personal interviews
* Principal Component Analysis (PCA) was used as a data reduction tool
* Economic Analysis and Statistical Tools and Techniques were used
List of participating IT parks
1. 247 IT Park - Mumbai
2. Adarsh Tech Park - Bangalore
3. BPTP Park Centra - Gurgaon
4. Embassy Golf Links - Bangalore
5. Embassy Techzone - Pune
6. EON Free Zone - Pune
7. Green Boulevard - Noida
8. IBC Knowledge Park - Bangalore
9. Manyata Embassy Business Park - Bangalore
10. Prestige Tech Park - Bangalore
11. Salarpuria GR Tech Park - Bangalore
12. Salarpuria Softzone - Bangalore
13. SJRI Park - Bangalore
14. Technopark - Trivandrum
15. Velankani IT Park - Bangalore
About Royal Institution of Chartered Surveyors (RICS)
RICS is the world's leading self regulatory professional body for qualifications and standards land, property, construction and associated environment issues.
In a world where more and more people, governments, banks and commercial organisations demand greater certainty of professional standards and ethics, attaining RICS status is the recognised mark of property professionalism.
Over 170 000 property professionals working in the major established and emerging economies of the world have already recognised the importance of securing RICS status by becoming members.
RICS is an independent professional body originally established in the UK by Royal Charter. Since 1868, RICS has been committed to setting and upholding the highest standards of excellence and integrity - providing impartial, authoritative advice on key issues affecting businesses and society. RICS is a regulator of both its individual members and firms enabling it to maintain the highest standards and providing the basis for unparalleled client confidence in the sector. Visit www.rics.org/india
About Vestian Global Workplace Services
Vestian Global Workplace Services is a wholly owned subsidiary of Vestian Group Inc, a macro economic fund, headquartered out of Chicago, USA. The company is an end user focused real estate services provider. Established in 2010, the Vestian Global service platform has been designed in response to contemporary needs of end‐users across emerging markets. The company is led by a set of senior industry professionals, who have several years of rich and trend‐setting experience across the spectrum of professional real estate services. The teams, processes and focused approach to integrated and effective service provision has seen company successfully implement its model in India and China. This has helped to build a strong track record and client base across these markets, comprising blue‐chip multinational and local corporations. In India the offices are in Bangalore, Chennai, Hyderabad Mumbai and New Delhi.
MR. SQUARE FEET IS NOW "PERFECT PINCODE"
Hyderabad, Andhra Pradesh -- Mr. Square Feet is renamed as Perfect Pincode now. Mr.Ravi Varma , COO, Perfect Pincode Pvt. Ltd. , stated that "nothing has changed except the name". So fundamentally what was formerly Mr. Square Feet, now transforms into Perfect Pincode with an additionthat Perfect Pincode would search property free for any customer who takes home loan through Perfect Pincode from banks & NBFCs on their list.
Perfect Pincode will continue to be the buyer's representative and make property hunting a pleasurable experience with the customer's interests being safeguarded first and foremost. "Excellent Product quality, unmatchable price and customer care will remain the trademark of Perfect Pincode, says Ravi.
Mr. Varma added that "In the Real Estate Sector, the previous brand Mr. Square Feet was indeed a much popular name. I am confident this transition to Perfect Pincode will only help fortify it further. Fundamentally, all elements in the company will remain unmatchable, may it be the service, projects or the people."
The name Perfect Pincode was the outcome of an in depth research across the buyers and real estate market. "We wanted to emulate the DNA of Mr. Square Feet in a new brand name. Our research study indicated that in the customers' mind, Mr. Square Feet stood for broker and only for a third party advice but the reality is way beyond. The name Perfect Pincode with the tag line "the buyer's representative" aptly captures its features and services" commented Mr. Ravi Varma.
About Mr. Perfect Pincode (formerly Mr. Sqaure Feet)
A professionally-managed Private Equity-invested Company, Mr. Square Feet is the first ever buyer's representative in the Real Estate space, and promises to make property hunting a pleasurable experience with the customer's interests being safeguarded first and foremost. The affairs are run by a young & dynamic team with rich and relevant experience, driven by the commitment to deliver the best in class services with total transparency. Their philosophy is to add value at every stage of the buying process, by bringing efficiency in the system, high service benchmarks, and ultimately ensuring that the customer gets a dream property at a fair and affordable price.
Perfect Pincode will continue to be the buyer's representative and make property hunting a pleasurable experience with the customer's interests being safeguarded first and foremost. "Excellent Product quality, unmatchable price and customer care will remain the trademark of Perfect Pincode, says Ravi.
Mr. Varma added that "In the Real Estate Sector, the previous brand Mr. Square Feet was indeed a much popular name. I am confident this transition to Perfect Pincode will only help fortify it further. Fundamentally, all elements in the company will remain unmatchable, may it be the service, projects or the people."
The name Perfect Pincode was the outcome of an in depth research across the buyers and real estate market. "We wanted to emulate the DNA of Mr. Square Feet in a new brand name. Our research study indicated that in the customers' mind, Mr. Square Feet stood for broker and only for a third party advice but the reality is way beyond. The name Perfect Pincode with the tag line "the buyer's representative" aptly captures its features and services" commented Mr. Ravi Varma.
About Mr. Perfect Pincode (formerly Mr. Sqaure Feet)
A professionally-managed Private Equity-invested Company, Mr. Square Feet is the first ever buyer's representative in the Real Estate space, and promises to make property hunting a pleasurable experience with the customer's interests being safeguarded first and foremost. The affairs are run by a young & dynamic team with rich and relevant experience, driven by the commitment to deliver the best in class services with total transparency. Their philosophy is to add value at every stage of the buying process, by bringing efficiency in the system, high service benchmarks, and ultimately ensuring that the customer gets a dream property at a fair and affordable price.
CX PRECISION MECHANICAL (INDIA) INVESTS RS.40 CRORE IN SRI CITY
Chennai, Tamil Nadu-- CX Precision Mechanical (India), a subsidiary of Chunxing Group Company based in China, a leading manufacturer of castings, CNC and stamping products serving Telecom, Automotive, Electronics, Medical and Aviation Industries, today signed an agreement with Sri City to set up its manufacturing facility in Special Economic Zone (SEZ).
Commenting on their investment, Mr. R. N. Kannan, General Manager, CX Precision Mechanical (India) said, "Our Directors Mr. Jack Mao and Mr. Carvin Chen are planning to setup a big facility with a total investment of 100 crores to cater the export market and the huge Indian market in a long term course. The first phase of the facility has been established with an initial investment of Rs.40 crore, the manufacturing facility is expected to commence production from October 2012 and provide employment to around 300 people and indirect jobs to 500 people". The new unit's products will be catering to the market base of leading players like Nokia Siemens Networks (NSN), Sanmina-SCI and so on with further focus on multiple sectors in the near future.
"Sri City is a great location with favourable government support, availability of labour and conducive business environment. We are confident that our manufacturing facility in Sri City will enable us to increase our production pace and reduce the risk of transportation to meet the local demand", he added.
Mr. Ravindra Sannareddy, Managing Director, Sri City, said, " It is another milestone for Sri City which is well on its way to becoming a true 'World City ' with the convergence of companies from all over the world at this plug-n-play integrated business zone. Currently we have companies from over 22 countries spanning the globe from the USA to Japan. While this is only the second Chinese company to come to Sri City, we have a strong pipeline and we expect to have at least 4-5 more companies in the next 6 months".
Sri City is an emerging world-class Business City located 55-kms from Chennai. It has the distinction of being the largest private sector multi-product Special Economic Zone (SEZ) in South India with a Domestic Tariff Zone (DTZ) and a Free Trade & Warehousing Zone (FTWZ) built in functional partnership with the Government of Andhra Pradesh. Strategically located, Sri City offers the distinct advantage of well-established connectivity by rail, and road with proximity to three seaports and two airports. Today, Sri City as a whole is home to over 70 industries from 22 countries which is truly unique.
Built on the 'Work-Live-Learn-Play' concept and master-planned by Jurong Consultants, Singapore, Sri City is an integrated development of a world-class business city with lifestyle facilities. Well-demarcated industrial zones within the SEZ and DTZ include automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma and IT/BPO, renewable energy and other eco-friendly industries. The trading zone (FTWZ) will primarily cater to companies trading in imports and re-exports, packaging, storage and distribution in the local markets.
In addition, country specific enclaves are specially created to offer specific and exclusive facilities to companies from these countries. The enclave will include a gated community development that offers native-style homes, food-courts with native chefs, translators and an 18-hole golf course. Robust industrial infrastructure such as road, water, power, telecom and sewer networks will service these zones making Sri City a hassle-free operational zone. Residential areas, commercial hubs, world-class healthcare, educational institutions, recreation centres and all necessary amenities will support the industrial zones at Sri City making it a truly integrated development for business and lifestyle.
For more, visit: www.sricity.in
Commenting on their investment, Mr. R. N. Kannan, General Manager, CX Precision Mechanical (India) said, "Our Directors Mr. Jack Mao and Mr. Carvin Chen are planning to setup a big facility with a total investment of 100 crores to cater the export market and the huge Indian market in a long term course. The first phase of the facility has been established with an initial investment of Rs.40 crore, the manufacturing facility is expected to commence production from October 2012 and provide employment to around 300 people and indirect jobs to 500 people". The new unit's products will be catering to the market base of leading players like Nokia Siemens Networks (NSN), Sanmina-SCI and so on with further focus on multiple sectors in the near future.
"Sri City is a great location with favourable government support, availability of labour and conducive business environment. We are confident that our manufacturing facility in Sri City will enable us to increase our production pace and reduce the risk of transportation to meet the local demand", he added.
Mr. Ravindra Sannareddy, Managing Director, Sri City, said, " It is another milestone for Sri City which is well on its way to becoming a true 'World City ' with the convergence of companies from all over the world at this plug-n-play integrated business zone. Currently we have companies from over 22 countries spanning the globe from the USA to Japan. While this is only the second Chinese company to come to Sri City, we have a strong pipeline and we expect to have at least 4-5 more companies in the next 6 months".
Sri City is an emerging world-class Business City located 55-kms from Chennai. It has the distinction of being the largest private sector multi-product Special Economic Zone (SEZ) in South India with a Domestic Tariff Zone (DTZ) and a Free Trade & Warehousing Zone (FTWZ) built in functional partnership with the Government of Andhra Pradesh. Strategically located, Sri City offers the distinct advantage of well-established connectivity by rail, and road with proximity to three seaports and two airports. Today, Sri City as a whole is home to over 70 industries from 22 countries which is truly unique.
Built on the 'Work-Live-Learn-Play' concept and master-planned by Jurong Consultants, Singapore, Sri City is an integrated development of a world-class business city with lifestyle facilities. Well-demarcated industrial zones within the SEZ and DTZ include automotive, engineering, logistics & warehousing, aerospace, electronics, biotech/pharma and IT/BPO, renewable energy and other eco-friendly industries. The trading zone (FTWZ) will primarily cater to companies trading in imports and re-exports, packaging, storage and distribution in the local markets.
In addition, country specific enclaves are specially created to offer specific and exclusive facilities to companies from these countries. The enclave will include a gated community development that offers native-style homes, food-courts with native chefs, translators and an 18-hole golf course. Robust industrial infrastructure such as road, water, power, telecom and sewer networks will service these zones making Sri City a hassle-free operational zone. Residential areas, commercial hubs, world-class healthcare, educational institutions, recreation centres and all necessary amenities will support the industrial zones at Sri City making it a truly integrated development for business and lifestyle.
For more, visit: www.sricity.in
Hyundai Construction Equipment India expands horizons; exports its first shipment to Sri Lanka
Pune, Maharashtra -- Hyundai Construction Equipment India Pvt. Ltd. (HCEIPL), a subsidiary of Hyundai Heavy Industries, Korea, today exported its first shipment of 20 tonne and 11 tonne excavators to Sri Lanka. The mix of first shipment of excavators consists of R210-7, R220LC-7 Rock and R110-7. Besides these, HCEIPL will also be exporting excavators ranging from 8 tonne to 120 tonne and wheel loaders. These excavators will be sold through HCEIPL's dealership Senok Trade Combine Pvt. Ltd. in Sri Lanka.
Speaking at the occasion, Ki Young Kong, Managing Director, HCEIPL said, "This is a landmark achievement in expanding Hyundai India's business across the borders. We have been exporting excavators to Nepal and now with Sri Lanka we are looking at expanding our reach to other neighboring countries also"
He further added, "Hyundai has gained huge market share in developing countries as seen in Brazil, China, Russia and India. Similarly, we are optimistic about this venture in Sri Lanka's construction equipment business."
The sub-continent region is on a fast growth path and the need of mechanized and automated technology for speedier development is a must. Hyundai understands customer demands and promptly provides a range of business solutions, thus creating value proposition.
These excavators that are shipped to Sri Lanka are manufactured at their plant in Chakan, Pune
About Us:
Hyundai Construction Equipment India Pvt. Ltd. a subsidiary of Hyundai Heavy Industries, Korea, has revolutionized the Construction Equipment business in India with its cutting edge technology in Excavator market and aims to be the market leader in terms of customer delight and market share. It has grown to a position of strength in 3 years since its inception in 2008 to an admirable and enviable player in the construction equipment industry.
Set up over a 50 acre land at Chakan near Pune in Maharashtra in a lush green surrounding with an initial investment of Rs. 300 crore in 2007, the state of the art manufacturing facility boasts of best in class technology, churning out world class products.
Hyundai (HCEIPL) is headquartered in Pune and has four Regional Offices at Delhi, Calcutta, Hyderabad and Mumbai overlooking sales& service through its strong 24 dealerships across every state in India. The dealerships are aptly supported by Sales and Service centers ensuring customer centric service and maximum uptime to customers. Each region has a Warehouse for its immediate requirement whereas the mother warehouse in Pune works as a feeder.
Speaking at the occasion, Ki Young Kong, Managing Director, HCEIPL said, "This is a landmark achievement in expanding Hyundai India's business across the borders. We have been exporting excavators to Nepal and now with Sri Lanka we are looking at expanding our reach to other neighboring countries also"
He further added, "Hyundai has gained huge market share in developing countries as seen in Brazil, China, Russia and India. Similarly, we are optimistic about this venture in Sri Lanka's construction equipment business."
The sub-continent region is on a fast growth path and the need of mechanized and automated technology for speedier development is a must. Hyundai understands customer demands and promptly provides a range of business solutions, thus creating value proposition.
These excavators that are shipped to Sri Lanka are manufactured at their plant in Chakan, Pune
About Us:
Hyundai Construction Equipment India Pvt. Ltd. a subsidiary of Hyundai Heavy Industries, Korea, has revolutionized the Construction Equipment business in India with its cutting edge technology in Excavator market and aims to be the market leader in terms of customer delight and market share. It has grown to a position of strength in 3 years since its inception in 2008 to an admirable and enviable player in the construction equipment industry.
Set up over a 50 acre land at Chakan near Pune in Maharashtra in a lush green surrounding with an initial investment of Rs. 300 crore in 2007, the state of the art manufacturing facility boasts of best in class technology, churning out world class products.
Hyundai (HCEIPL) is headquartered in Pune and has four Regional Offices at Delhi, Calcutta, Hyderabad and Mumbai overlooking sales& service through its strong 24 dealerships across every state in India. The dealerships are aptly supported by Sales and Service centers ensuring customer centric service and maximum uptime to customers. Each region has a Warehouse for its immediate requirement whereas the mother warehouse in Pune works as a feeder.
IDBI Bank unveils state-of-the art Currency Chest at Bandra-Kurla Complex, Mumbai
Mumbai, Maharashtra -- Shri R M Malla, Chairman and Managing Director, IDBI Bank Ltd, unveiled a state-of-the-art Currency Chest - one of the largest in the country- at its Bandra Kurla Complex Branch today, in the presence of Shri J B Bhoria, Regional Director, Reserve Bank of India, Mumbai.
Shri B K Batra, Deputy Managing Director, IDBI Bank Ltd., Executive Directors, Chief General Managers and other Senior Officials of the Bank also graced the occasion.
Shri Malla also inaugurated a Premier Locker Facility at the same premises, which would currently house 206 lockers of various sizes with a capacity to accommodate up to 1000 lockers. The Locker lobby has state-of-the-art security measures such as bio-metric access control system and premium facilities such as Kids Zone with Play area, Coffee Shop for Customers with wi-fi facility, etc.
Speaking on the occasion, Shri Malla remarked that "The twin premier facilities are in keeping with our Bank's stated vision of emerging as the most preferred and trusted bank, enhancing value for all stakeholders. We have drawn up an ambitious plan for setting up a sizeable number of Currency Chests pan-India this year in line with our business growth."
Shri B K Batra, Deputy Managing Director, IDBI Bank Ltd., Executive Directors, Chief General Managers and other Senior Officials of the Bank also graced the occasion.
Shri Malla also inaugurated a Premier Locker Facility at the same premises, which would currently house 206 lockers of various sizes with a capacity to accommodate up to 1000 lockers. The Locker lobby has state-of-the-art security measures such as bio-metric access control system and premium facilities such as Kids Zone with Play area, Coffee Shop for Customers with wi-fi facility, etc.
Speaking on the occasion, Shri Malla remarked that "The twin premier facilities are in keeping with our Bank's stated vision of emerging as the most preferred and trusted bank, enhancing value for all stakeholders. We have drawn up an ambitious plan for setting up a sizeable number of Currency Chests pan-India this year in line with our business growth."
South Indian Bank Declares The Highest Ever Net Profit Of Rs. 401.66 Crore.
Thrissur, Kerala -- Kerala-based South Indian Bank (SIB) has declared the highest ever net profit of Rs 401.66 Crore. The bank has also announced 60% dividend as against the 50% in the previous year.
Gross NPA below 1% mark at 0.97%.
Net NPA low at 0.28%
Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.
Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.
Performance Highlights
Deposit (Rs Crore)
31.03.2011 - 29,72131.03.2012 - 36,501% Growth - 22.81%
Advances (Rs Crore)
31.03.2011 - 20,79931.03.2012 - 27,635% Growth - 32.87%
Total Business (Rs Crore)
31.03.2011 - 50,52031.03.2012 - 64,136% Growth -26.95%
Gross NPA (%)
31.03.2011 - 1.1131.03.2012 - 0.97
Net NPA (%)
31.03.2011 - 0.2931.03.2012 - 0.28% Growth -
Net Profit
31.03.2011 - 292.5631.03.2012 - 401.66% Growth -37.29%
Provision Coverage
31.03.2011 - 73.64%31.03.2012 - 71.36%
CRAR (Basel II)
31.03.2011 - 14.01%31.03.2012 - 14.00%
Branches
31.03.2011 - 64131.03.2012 - 700
ATMS
31.03.2011 - 48931.03.2012 - 663
Net Interest Margin
31.03.2011 - 3.0631.03.2012 - 3.10
Proposed Dividend
31.03.2011 - 50%31.03.2012 - 60%
The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.
The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.
The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012. Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.
Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.
The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.
Provision Coverage ratio stands at 71.36% as on 31.03.2012.In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.
The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.
South Indian Bank Declares The Highest Ever Net Profit Of Rs. 401.66 Crore.
The net profit of the Thrissur-based South Indian Bank has registered a 37% increase, touching a record level of Rs 401.66 Crore , for the fiscal 2011-12. The Board of the Bank has recommended a dividend of 60%, which was 50% last year.
Kerala-based South Indian Bank (SIB) has declared the highest ever net profit of Rs 401.66 Crore. The bank has also announced 60% dividend as against the 50% in the previous year.
Gross NPA below 1% mark at 0.97%.
Net NPA low at 0.28%
Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.
Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.
Performance Highlights
Deposit (Rs Crore)
31.03.2011 - 29,72131.03.2012 - 36,501% Growth - 22.81%
Advances (Rs Crore)
31.03.2011 - 20,79931.03.2012 - 27,635% Growth - 32.87%
Total Business (Rs Crore)
31.03.2011 - 50,52031.03.2012 - 64,136% Growth -26.95%
Gross NPA (%)
31.03.2011 - 1.1131.03.2012 - 0.97
Net NPA (%)
31.03.2011 - 0.2931.03.2012 - 0.28% Growth -
Net Profit
31.03.2011 - 292.5631.03.2012 - 401.66% Growth -37.29%
Provision Coverage
31.03.2011 - 73.64%31.03.2012 - 71.36%
CRAR (Basel II)
31.03.2011 - 14.01%31.03.2012 - 14.00%
Branches
31.03.2011 - 64131.03.2012 - 700
ATMS
31.03.2011 - 48931.03.2012 - 663
Net Interest Margin
31.03.2011 - 3.0631.03.2012 - 3.10
Proposed Dividend
31.03.2011 - 50%31.03.2012 - 60%
The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.
The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.
The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012. Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.
Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.
The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.
Provision Coverage ratio stands at 71.36% as on 31.03.2012.In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.
The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.
Gross NPA below 1% mark at 0.97%.
Net NPA low at 0.28%
Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.
Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.
Performance Highlights
Deposit (Rs Crore)
31.03.2011 - 29,72131.03.2012 - 36,501% Growth - 22.81%
Advances (Rs Crore)
31.03.2011 - 20,79931.03.2012 - 27,635% Growth - 32.87%
Total Business (Rs Crore)
31.03.2011 - 50,52031.03.2012 - 64,136% Growth -26.95%
Gross NPA (%)
31.03.2011 - 1.1131.03.2012 - 0.97
Net NPA (%)
31.03.2011 - 0.2931.03.2012 - 0.28% Growth -
Net Profit
31.03.2011 - 292.5631.03.2012 - 401.66% Growth -37.29%
Provision Coverage
31.03.2011 - 73.64%31.03.2012 - 71.36%
CRAR (Basel II)
31.03.2011 - 14.01%31.03.2012 - 14.00%
Branches
31.03.2011 - 64131.03.2012 - 700
ATMS
31.03.2011 - 48931.03.2012 - 663
Net Interest Margin
31.03.2011 - 3.0631.03.2012 - 3.10
Proposed Dividend
31.03.2011 - 50%31.03.2012 - 60%
The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.
The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.
The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012. Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.
Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.
The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.
Provision Coverage ratio stands at 71.36% as on 31.03.2012.In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.
The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.
South Indian Bank Declares The Highest Ever Net Profit Of Rs. 401.66 Crore.
The net profit of the Thrissur-based South Indian Bank has registered a 37% increase, touching a record level of Rs 401.66 Crore , for the fiscal 2011-12. The Board of the Bank has recommended a dividend of 60%, which was 50% last year.
Kerala-based South Indian Bank (SIB) has declared the highest ever net profit of Rs 401.66 Crore. The bank has also announced 60% dividend as against the 50% in the previous year.
Gross NPA below 1% mark at 0.97%.
Net NPA low at 0.28%
Net profit for the F.Y 2011-12 increased to Rs. 401.66 Crore as against 292.56 Crore for the previous year, registering a growth of 37.29%.
Net profit for the quarter ended March 31, 2012 up by 49.17% at Rs. 121.96 Crore against Rs. 81.76 Crore during the last quarter of previous year.
Performance Highlights
Deposit (Rs Crore)
31.03.2011 - 29,72131.03.2012 - 36,501% Growth - 22.81%
Advances (Rs Crore)
31.03.2011 - 20,79931.03.2012 - 27,635% Growth - 32.87%
Total Business (Rs Crore)
31.03.2011 - 50,52031.03.2012 - 64,136% Growth -26.95%
Gross NPA (%)
31.03.2011 - 1.1131.03.2012 - 0.97
Net NPA (%)
31.03.2011 - 0.2931.03.2012 - 0.28% Growth -
Net Profit
31.03.2011 - 292.5631.03.2012 - 401.66% Growth -37.29%
Provision Coverage
31.03.2011 - 73.64%31.03.2012 - 71.36%
CRAR (Basel II)
31.03.2011 - 14.01%31.03.2012 - 14.00%
Branches
31.03.2011 - 64131.03.2012 - 700
ATMS
31.03.2011 - 48931.03.2012 - 663
Net Interest Margin
31.03.2011 - 3.0631.03.2012 - 3.10
Proposed Dividend
31.03.2011 - 50%31.03.2012 - 60%
The total business of the bank has increased by Rs. 13,616 Crore from Rs. 50,520 Crore to Rs. 64,136 Crore on year-to-year basis registering a growth of 26.95%. While the deposits has gone up by Rs. 6,780 Crore from Rs. 29,721 Crore to Rs. 36,501 Crore registering a growth of 22.81%, the advances have increased by Rs. 6,836 Crore from Rs. 20,799 Crore to Rs. 27,635 Crore registering a growth of 32.87%. CASA of the bank has increased by Rs. 775 Crore from Rs. 6,404 Crore to Rs. 7,179 Crore registering a growth of 12.11%. Dr. V A Joseph, MD & CEO stated that the robust growth in business coupled with low NPA enabled the bank to attain the present level of performance.
The bank earned a total income of Rs. 3,830 Crore during 2011-12 as against Rs. 2,643 Crore for the previous year registering a growth of 44.91%.
The Net Interest Margin has increased from 3.06% as on 31.03.2011 to 3.10% as on 31.03.2012. Annualised earnings per share increased from Rs. 2.59 as at 31.03.2011 to Rs. 3.55 as at 31.03.2012.
Book Value per share increased from Rs. 16.33 as at 31.03.2011 to Rs. 19.12 as at 31.03.2012.
The Capital adequacy ratio of the bank stood at 14.00% (under BASEL II standards) against the regulatory requirement of 9%.
Provision Coverage ratio stands at 71.36% as on 31.03.2012.In order to achieve the ambitious growth target, Bank decided to raise capital to the tune of Rs. 400.00 Crores during the year.
The bank is planning to increase the number of branches and ATMS to 750 each by next fiscal end.
IDBI Bank increases rates on FCNR (B) deposits by up to 175 bps
Mumbai, Maharashtra-- IDBI Bank has decided to increase the Interest rates on Foreign Currency Non Resident (Bank) deposits up to 175 basis points (bps), with retrospective effect from May 5, 2012. The Interest rates on FCNR (B) deposits are linked to London Inter Bank offer Rate (LIBOR) / Swap rates and are revised every month as per the LIBOR / Swap rates obtaining on the last working day of the previous month. The revised rates on FCNR (B) deposits are as under: -
Interest Rate on FCNR (B) Deposits
Maturity Period
Current Rates
Revised Rates
1yr - less than 3yrs
LIBOR/Swap plus 125 bps
LIBOR/Swap plus 200 bps
3 yrs - 5yrs
LIBOR/Swap plus 125 bps
LIBOR/Swap plus 300 bps
The Interest Rates have been revised across all permitted currencies i.e. US Dollar, Pound Sterling, Euro, Canadian Dollar and Australian Dollar (details given below).
Currency-wise revised Interest Rate on FCNR (B) Deposits effective May 5, 2012
(In %)
Maturity Period
USD
GBP
EUR
AUD
CAD
1yr - less than 2yrs
3.05
3.86
3.30
6.95
4.05
2yrs - less than 3yrs
2.56
3.38
2.95
5.70
3.69
3yrs - less than 4yrs
3.67
4.47
4.07
6.76
4.81
4yrs - less than 5yrs
3.88
4.58
4.25
6.99
4.92
5yrs only
4.11
4.70
4.45
7.09
5.03
Interest Rate on FCNR (B) Deposits
Maturity Period
Current Rates
Revised Rates
1yr - less than 3yrs
LIBOR/Swap plus 125 bps
LIBOR/Swap plus 200 bps
3 yrs - 5yrs
LIBOR/Swap plus 125 bps
LIBOR/Swap plus 300 bps
The Interest Rates have been revised across all permitted currencies i.e. US Dollar, Pound Sterling, Euro, Canadian Dollar and Australian Dollar (details given below).
Currency-wise revised Interest Rate on FCNR (B) Deposits effective May 5, 2012
(In %)
Maturity Period
USD
GBP
EUR
AUD
CAD
1yr - less than 2yrs
3.05
3.86
3.30
6.95
4.05
2yrs - less than 3yrs
2.56
3.38
2.95
5.70
3.69
3yrs - less than 4yrs
3.67
4.47
4.07
6.76
4.81
4yrs - less than 5yrs
3.88
4.58
4.25
6.99
4.92
5yrs only
4.11
4.70
4.45
7.09
5.03
20120514
Yahoo chief executive officer (CEO) Scott Thompson has resigned
Washington: Yahoo chief executive officer (CEO) Scott Thompson has resigned and the company has named Ross Levinsohn as interim CEO, Yahoo said on Sunday.
The company said its board of directors also appointed Fred Amoroso as chairman. Both appointments were effective immediately, a leading Chinese news agency reported.
"Mr. Levinsohn replaces Scott Thompson, former chief executive officer, who has left the company," Yahoo said in a statement.
Thompson, former president of eBay's subsidiary PayPal, was appointed as CEO in January 2012.
According to the Chinese news agency, Thompson was under fire after Yahoo shareholder Dan Loeb alleged that the CEO does not have a computer science degree from Stonehill College as claimed for the CEO position, as well as in regulatory filings to the US Securities and Exchange Commission.
source:agency
The company said its board of directors also appointed Fred Amoroso as chairman. Both appointments were effective immediately, a leading Chinese news agency reported.
"Mr. Levinsohn replaces Scott Thompson, former chief executive officer, who has left the company," Yahoo said in a statement.
Thompson, former president of eBay's subsidiary PayPal, was appointed as CEO in January 2012.
According to the Chinese news agency, Thompson was under fire after Yahoo shareholder Dan Loeb alleged that the CEO does not have a computer science degree from Stonehill College as claimed for the CEO position, as well as in regulatory filings to the US Securities and Exchange Commission.
source:agency
India's inflation rose faster-than-expected to 7.23 percent in April
New Delhi: India's inflation rose faster-than-expected to 7.23 percent in April as compared to 6.89 percent in the previous month, mainly driven by a sharp increase in the prices of food items and manufactured products, government data showed today.
The monthly inflation based on wholesale price index (WPI) was 9.74 percent during the corresponding month of previous year.
In the monthly report, the commerce and industry ministry revised upward February inflation figure to 7.36 percent as compared 6.95 percent reported earlier.
The monthly data showed that inflationary pressure continued in the system, limiting the room for further rate cut by the central bank.
Food inflation surged into double-digit. Food inflation rose to 10.49 percent in April as compared to 9.94 percent in the previous month as vegetables, pulses, milk, egg, meat and fish became costlier, pinching the pockets of common people.
Prices of vegetables surged by 60.97 percent year-on-year. Potato price more than doubled. Milk became costlier by 15.51 percent. Prices of egg, meat and fish rose by 17.54 percent. Pulses became costlier by 11.29 percent.
Price of manufactured products increased by 5.12 percent year-on-year, while price of fuel and power grew by 11.03 percent.
The recent data showed that India continued to face the problem of high inflationary pressure and low growth.
As per the data released by the Central Statistics Office last week, India's industrial output shrank by 3.5 percent in March due to poor show of manufacturing and mining sectors. It was is the first contraction in the factory output since October 2011, when it shrank by 4.7 percent.
The factory output, measured in terms of the Index of Industrial Production (IIP), had registered a growth of 4.1 percent in February year-on-year.
Taking cues from the moderation in inflation, the Reserve Bank of India (RBI) in its annual monetary policy for 2012-13, announced April 17, lowered the key policy rates by 0.50 percent for the first time in three years.
source:agency
The monthly inflation based on wholesale price index (WPI) was 9.74 percent during the corresponding month of previous year.
In the monthly report, the commerce and industry ministry revised upward February inflation figure to 7.36 percent as compared 6.95 percent reported earlier.
The monthly data showed that inflationary pressure continued in the system, limiting the room for further rate cut by the central bank.
Food inflation surged into double-digit. Food inflation rose to 10.49 percent in April as compared to 9.94 percent in the previous month as vegetables, pulses, milk, egg, meat and fish became costlier, pinching the pockets of common people.
Prices of vegetables surged by 60.97 percent year-on-year. Potato price more than doubled. Milk became costlier by 15.51 percent. Prices of egg, meat and fish rose by 17.54 percent. Pulses became costlier by 11.29 percent.
Price of manufactured products increased by 5.12 percent year-on-year, while price of fuel and power grew by 11.03 percent.
The recent data showed that India continued to face the problem of high inflationary pressure and low growth.
As per the data released by the Central Statistics Office last week, India's industrial output shrank by 3.5 percent in March due to poor show of manufacturing and mining sectors. It was is the first contraction in the factory output since October 2011, when it shrank by 4.7 percent.
The factory output, measured in terms of the Index of Industrial Production (IIP), had registered a growth of 4.1 percent in February year-on-year.
Taking cues from the moderation in inflation, the Reserve Bank of India (RBI) in its annual monetary policy for 2012-13, announced April 17, lowered the key policy rates by 0.50 percent for the first time in three years.
source:agency
Credit ratings agency Moody's downgraded India's three top private sector lenders -- ICICI Bank, HDFC Bank and Axis Bank
New Delhi: Credit ratings agency Moody's today downgraded India's three top private sector lenders -- ICICI Bank, HDFC Bank and Axis Bank -- on growing concerns over the country's sovereign debt ratings.
Moody's lowered the standalone ratings of these top three private sector lenders to the sovereign ratings level of D+ from earlier C-. The lenders' hybrid rating is also lowered a notch to Baa2 from Baa3.
"The downward revision to the three Indian banks' standalone ratings reflects Moody's assessment that their creditworthiness are highly correlated with that of the Indian government's credit strength," Moody's said in a report.
For all three banks, the key drivers for the rating action were: relatively low level of cross-border diversification of their operations; high level of balance-sheet exposure to domestic sovereign debt, compared with their capital bases; franchise resilience and intrinsic strength within the operating environment; and absence of ongoing support from foreign ownership.
"Our review indicated that there are little, if any, reasons to believe that these banks would be insulated from a government debt crisis," Moody's said.
Moody's pointed out that all these three lenders have significant direct exposure to the Indian government securities: equivalent to 239 percent of tier-1 capital at Axis Bank, 226 percent of tier-1 capital of HDFC Bank, and 143 percent of tier-1 capital at ICICI Bank.
"In addition, these three banks are primarily domestic institutions with similar macroeconomic exposures as the sovereign government," it said.
With assets of Rs.4,736.47 billion as on March 31, 2012, ICICI Bank is India's largest private sector lender followed by HDFC Bank with assets of Rs.3,379.10 billion and Axis Bank Rs.2,856.28 billion.
source:agency
Moody's lowered the standalone ratings of these top three private sector lenders to the sovereign ratings level of D+ from earlier C-. The lenders' hybrid rating is also lowered a notch to Baa2 from Baa3.
"The downward revision to the three Indian banks' standalone ratings reflects Moody's assessment that their creditworthiness are highly correlated with that of the Indian government's credit strength," Moody's said in a report.
For all three banks, the key drivers for the rating action were: relatively low level of cross-border diversification of their operations; high level of balance-sheet exposure to domestic sovereign debt, compared with their capital bases; franchise resilience and intrinsic strength within the operating environment; and absence of ongoing support from foreign ownership.
"Our review indicated that there are little, if any, reasons to believe that these banks would be insulated from a government debt crisis," Moody's said.
Moody's pointed out that all these three lenders have significant direct exposure to the Indian government securities: equivalent to 239 percent of tier-1 capital at Axis Bank, 226 percent of tier-1 capital of HDFC Bank, and 143 percent of tier-1 capital at ICICI Bank.
"In addition, these three banks are primarily domestic institutions with similar macroeconomic exposures as the sovereign government," it said.
With assets of Rs.4,736.47 billion as on March 31, 2012, ICICI Bank is India's largest private sector lender followed by HDFC Bank with assets of Rs.3,379.10 billion and Axis Bank Rs.2,856.28 billion.
source:agency
Moody's Investors Service downgraded the state-run Life Insurance Corporation of India (LIC) to the lowest investment grade
New Delhi: Credit ratings agency Moody's Investors Service today downgraded the state-run Life Insurance Corporation of India (LIC) to the lowest investment grade, in line with the sovereign ratings, due to the firm's high exposure to government debt.
Moody's lowered LIC's foreign currency insurance financial strength rating to Baa3 from Baa2. This is the lowest investment grade ratings also assigned on India's long-term sovereign debt.
Rating outlook of LIC is now stable, Moody's said in a report.
"The downgrade of LIC's rating reflects Moody's assessment that its creditworthiness is highly correlated with that of the Indian government's credit strength," the ratings agency said that in the report.
It pointed out that LIC is 100 percent owned by the Indian government. LIC generates almost all its premiums in India, reflecting its concentration in one market, its high reliance on the domestic economy, and its exposure to an evolving operating environment.
Moody's review concludes that there is little, if any, reason to believe that LIC would be insulated from any government debt crisis, if it were to occur.
LIC has meaningful and rapidly increasing direct or indirect exposures to the government through its holdings of government securities and its equity investments in government-related entities, including banks and corporations.
As of Dec 31, 2011, the ratio of Indian government securities to adjusted shareholders' equity was 764 percent (excluding unit-linked invested assets).
"Consequently, Moody's views the lower rating -- which is now positioned at the rating of the Indian government -- as more appropriate to capture the credit profile of LIC," it said.
This revision takes place in the context of an ongoing global review affecting financial institutions whose ratings are higher than the rating of the government where they are domiciled.
source:agency
Moody's lowered LIC's foreign currency insurance financial strength rating to Baa3 from Baa2. This is the lowest investment grade ratings also assigned on India's long-term sovereign debt.
Rating outlook of LIC is now stable, Moody's said in a report.
"The downgrade of LIC's rating reflects Moody's assessment that its creditworthiness is highly correlated with that of the Indian government's credit strength," the ratings agency said that in the report.
It pointed out that LIC is 100 percent owned by the Indian government. LIC generates almost all its premiums in India, reflecting its concentration in one market, its high reliance on the domestic economy, and its exposure to an evolving operating environment.
Moody's review concludes that there is little, if any, reason to believe that LIC would be insulated from any government debt crisis, if it were to occur.
LIC has meaningful and rapidly increasing direct or indirect exposures to the government through its holdings of government securities and its equity investments in government-related entities, including banks and corporations.
As of Dec 31, 2011, the ratio of Indian government securities to adjusted shareholders' equity was 764 percent (excluding unit-linked invested assets).
"Consequently, Moody's views the lower rating -- which is now positioned at the rating of the Indian government -- as more appropriate to capture the credit profile of LIC," it said.
This revision takes place in the context of an ongoing global review affecting financial institutions whose ratings are higher than the rating of the government where they are domiciled.
source:agency
India Yamaha Motor Private Limited. will be setting up its largest plant in Asia
Chennai: With demand for its premium bikes going up and sensing bigger opportunities, the India Yamaha Motor Private Limited. will be setting up here its largest plant in Asia at an outlay of Rs.1,500 crore to roll out scooters and motorcycles, a top company official said.
"This is in line with Yamaha Motor Company's medium-term management plans of enhancing local production levels to meet the demand growth in emerging markets such as India and their export markets. We expect the industry to attain 20 million units level by 2016 when we are targeting to sell two million units and achieve 10 percent market share," Hiroyuki Suzuki, chief executive officer and managing director, told reporters here today.
India Yamaha Motor - a joint venture between two Japanese companies the Yamaha Motor Company and the Mitsui & Co Limited - signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for construction of the new plant.
Construction work at the new plant is expected to start this September and the plant would go on stream in 2014 with an initial capacity of 400,000 units.
"The total investment for the first phase will be around 40-50 percent of the overall outlay planned (Rs.1,500 crore) for the Chennai plant," Riuji Kawashima, deputy managing director said.
The capacity will be increased in stages to touch 1.8 million units annually by 2018 by which time India Yamaha Motor would have a total annual capacity of 2.8 million units.
"Out of this, we will export between 10-20 percent to ASEAN and other countries," Kawashima said.
In 2011, the company exported 192,000 units out of India and hopes to maintain the same levels this year as well.
According to Kawashima, around seven component vendors from Japan are expected to locate their facilities at the vendor park located near by apart from other auto ancillary units.
"Currently out localisation levels are at 90 percent, and at Chennai plant it will be 95 percent. The investment by vendors will be around 30 percent of ours in Chennai," he said.
India Yamaha Motor rolls out its motorcycles out of its Surajpur plant (capacity 600,000) in Uttar Pradesh.
The company is in the process of expanding the capacity there to one million units at an outlay of Rs.750 crore.
When queried about the variance in capital expenditure for its two projects (Rs.750 crore for increasing the capacity by 400,000 units at Uttar Pradesh and Rs.1,500 crore for 1.8 million units in Chennai), an official said that the capex at Uttar Pradesh includes other logistics facilities.
Meanwhile, India Yamaha Motor will enter the growing scooters market with its product Ray later this year.
"It will be targeted at young women. The prototype of our scooter was showcased at the Auto Expo in New Delhi this year," Roy Kurian, national business head (sales) said.
Though focused on deluxe and premium end of the domestic motorcycle segment now, Kurian did not discount the possibility of the company venturing into mass market segment given the company's proposed annual production capacity of 2.8 million units by 2018.
Kurian said the company will be expanding its distribution network by 2014 by adding around 650 dealers, 1,000 Yamaha Bike Corners and 400 dealer branches.
Currently the company has 400 dealers and 400 Yamaha Bike Corners.
source:agecny
"This is in line with Yamaha Motor Company's medium-term management plans of enhancing local production levels to meet the demand growth in emerging markets such as India and their export markets. We expect the industry to attain 20 million units level by 2016 when we are targeting to sell two million units and achieve 10 percent market share," Hiroyuki Suzuki, chief executive officer and managing director, told reporters here today.
India Yamaha Motor - a joint venture between two Japanese companies the Yamaha Motor Company and the Mitsui & Co Limited - signed a Memorandum of Understanding (MoU) with the Tamil Nadu government for construction of the new plant.
Construction work at the new plant is expected to start this September and the plant would go on stream in 2014 with an initial capacity of 400,000 units.
"The total investment for the first phase will be around 40-50 percent of the overall outlay planned (Rs.1,500 crore) for the Chennai plant," Riuji Kawashima, deputy managing director said.
The capacity will be increased in stages to touch 1.8 million units annually by 2018 by which time India Yamaha Motor would have a total annual capacity of 2.8 million units.
"Out of this, we will export between 10-20 percent to ASEAN and other countries," Kawashima said.
In 2011, the company exported 192,000 units out of India and hopes to maintain the same levels this year as well.
According to Kawashima, around seven component vendors from Japan are expected to locate their facilities at the vendor park located near by apart from other auto ancillary units.
"Currently out localisation levels are at 90 percent, and at Chennai plant it will be 95 percent. The investment by vendors will be around 30 percent of ours in Chennai," he said.
India Yamaha Motor rolls out its motorcycles out of its Surajpur plant (capacity 600,000) in Uttar Pradesh.
The company is in the process of expanding the capacity there to one million units at an outlay of Rs.750 crore.
When queried about the variance in capital expenditure for its two projects (Rs.750 crore for increasing the capacity by 400,000 units at Uttar Pradesh and Rs.1,500 crore for 1.8 million units in Chennai), an official said that the capex at Uttar Pradesh includes other logistics facilities.
Meanwhile, India Yamaha Motor will enter the growing scooters market with its product Ray later this year.
"It will be targeted at young women. The prototype of our scooter was showcased at the Auto Expo in New Delhi this year," Roy Kurian, national business head (sales) said.
Though focused on deluxe and premium end of the domestic motorcycle segment now, Kurian did not discount the possibility of the company venturing into mass market segment given the company's proposed annual production capacity of 2.8 million units by 2018.
Kurian said the company will be expanding its distribution network by 2014 by adding around 650 dealers, 1,000 Yamaha Bike Corners and 400 dealer branches.
Currently the company has 400 dealers and 400 Yamaha Bike Corners.
source:agecny
20120512
Tata Housing Development to represent APAC at the International Property Awards, London
Mumbai: Tata Housing Development Company (Tata Housing), India’s fastest growing real estate development company, with over 46 million sq ft under various stages of development, has once again triumphed at the most prestigious Asia Pacific Property Awards 2012 (part of the International Property Awards), for the fourth year in a row, bagging five coveted awards under various categories.
Tata Housing is the country’s only residential developer to receive the prestigious five-star award in the Leisure Architecture category for La Montana; highly commended awards in the Show Home category for Prive and Primanti; highly commended award in the Development Marketing category for La Montana; highly commended developer website for www.lamontana.co.in.
Additionally, La Montana, a Mediterranean-themed township located at Talegaon, designed by international architect firm F + A, was adjudged as an Asian contender in the Leisure Architecture category, to compete against the highest-scoring contenders from Europe, Africa, the Americas and Arabia, to find the ultimate ‘world’s best’.
Speaking on the achievement Brotin Banerjee, managing director and chief executive officer, Tata Housing, said, “At Tata Housing, it’s our constant endeavour to create benchmark projects based on the consumer’s needs and requirement. We are proud of our continued success at the Asia Pacific Property Awards. This year is special for us as our project La Montana achieved the distinction of winning the five-star rating for Best Leisure Architecture India, and it leads from the Asia Pacific region to be honoured with Best Leisure Architect Residential Asia Pacific. It is indeed a very proud moment for us as this is the only residential project to be nominated from India to represent the Asia Pacific region for the International Property Awards. This will strengthen our commitment to create landmark projects in the country.”
Held in association with Royal Institution of Chartered Surveyors (RICS) Asia, the Asia Pacific Property Awards recognises 40 categories of distinction within the fields of development, interior design, architecture and real estate. Each project was judged by a team of 65 professionals from the property discipline. They are ascertained based on quality of design, construction and presentation of individual properties as well as interior, architecture and marketing.
Stuart Shield, president, International Property Awards, says, “We received a record number of entries for the Asia Pacific region this year and the standard was extremely high. Any company to win one of these awards has shown exceptional levels of professionalism and competence in their respective fields.”
The Asia Pacific Property Awards are part of the long-established International Property Awards and its winners’ logo is recognised as a symbol of excellence throughout the global industry. Founded 18 years ago, these accolades distinguish excellence in the property industry worldwide, and promote international standards. For the last four years consecutively, Tata Housing has been acknowledged with multiple accolades at this prestigious annual symposium, demonstrating that it is again at the forefront of the real estate industry in Asia.
source:agency
Tata Housing is the country’s only residential developer to receive the prestigious five-star award in the Leisure Architecture category for La Montana; highly commended awards in the Show Home category for Prive and Primanti; highly commended award in the Development Marketing category for La Montana; highly commended developer website for www.lamontana.co.in.
Additionally, La Montana, a Mediterranean-themed township located at Talegaon, designed by international architect firm F + A, was adjudged as an Asian contender in the Leisure Architecture category, to compete against the highest-scoring contenders from Europe, Africa, the Americas and Arabia, to find the ultimate ‘world’s best’.
Speaking on the achievement Brotin Banerjee, managing director and chief executive officer, Tata Housing, said, “At Tata Housing, it’s our constant endeavour to create benchmark projects based on the consumer’s needs and requirement. We are proud of our continued success at the Asia Pacific Property Awards. This year is special for us as our project La Montana achieved the distinction of winning the five-star rating for Best Leisure Architecture India, and it leads from the Asia Pacific region to be honoured with Best Leisure Architect Residential Asia Pacific. It is indeed a very proud moment for us as this is the only residential project to be nominated from India to represent the Asia Pacific region for the International Property Awards. This will strengthen our commitment to create landmark projects in the country.”
Held in association with Royal Institution of Chartered Surveyors (RICS) Asia, the Asia Pacific Property Awards recognises 40 categories of distinction within the fields of development, interior design, architecture and real estate. Each project was judged by a team of 65 professionals from the property discipline. They are ascertained based on quality of design, construction and presentation of individual properties as well as interior, architecture and marketing.
Stuart Shield, president, International Property Awards, says, “We received a record number of entries for the Asia Pacific region this year and the standard was extremely high. Any company to win one of these awards has shown exceptional levels of professionalism and competence in their respective fields.”
The Asia Pacific Property Awards are part of the long-established International Property Awards and its winners’ logo is recognised as a symbol of excellence throughout the global industry. Founded 18 years ago, these accolades distinguish excellence in the property industry worldwide, and promote international standards. For the last four years consecutively, Tata Housing has been acknowledged with multiple accolades at this prestigious annual symposium, demonstrating that it is again at the forefront of the real estate industry in Asia.
source:agency
IRB chairman Virendra Dattatray Mhaiskar investigated in murder case
MUMBAI: The chairman of Indian road building and real estate firm IRB Infrastructure Developers is being investigated by police in connection with the murder in 2010 of a man described as an anti-corruption activist.
The news sent the company's shares down as much as 18 per cent. Chairman and Managing Director Virendra Dattatray Mhaiskar and 2 other company officials are being investigated by federal police in connection with the murder of Satish Shetty, an official of the Central Bureau of Investigation told Reuters.
They have been asked to take a polygraph lie-detector test and the results will be known in June, said the official, who did not want to be named said.
Mhaiskar, who ranked 78th on Forbes' 2011 list of the richest Indians, denied any connection to the murder.
"I am pleading innocence in the case, I am not at all connected any how," he told Reuters.
Shetty died after being attacked with swords by unknown assailants whilst on a morning walk two years ago, according to media reports from the time.
They described him as a man who used India's Right To Information Act to expose corruption, and that he had been investigating possible land-grabbing along an expressway operated by IRB Infrastructure.
The Right to Information Act of 2005 allows citizens access to information under the control of public authorities.
The Mumbai-Pune six-lane 95-km long expressway is India's first expressway, and was completed in 2002, halving the travel time between the two cities in the western state of Maharashtra and is IRB's signature project as an operator.
In a statement to the stock exchange, the company said Mhaiskar had been cleared by a previous local police investigation, and that he and other company officials had agreed to the CBI's latest demand for a polygraph test as they were confident of their "non-involvement" in the matter.
Mhaiskar said the investigation would have no bearing on the road developer, of which he said he owns 60 per cent. Ahead of Thursday's share price drop, IRB was India's fourth-largest construction company by market capitalisation, worth $1.06 billion.
"This case has nothing to do with the company," he said by mobile phone.
The company held a conference call with analysts on Thursday afternoon in a bid to calm market nerves, but investors remain worried about the potential impact on the company.
"We believe this is a negative development against the company's growth prospects since Mr. Virendra Mhaiskar is the key personnel in driving the business," Rajeev Desai, analyst with IFCI Financial Services, said in a note to clients.
IRB operates mainly in India's road sector through several special purpose vehicles. According to its website, the company has built or operates some 8,000 lane kms of road so far. It recently diversified into real estate development and has land reserves of about 1,200 acres in Pune to build a township.
The company is due to announce annual results for the year to March 2012 on May 9. According to Thomson Reuters I/B/E/S, analysts forecast the company to post net profit of 4.89 billion rupees, 8 per cent more than a year ago.
source:agency
The news sent the company's shares down as much as 18 per cent. Chairman and Managing Director Virendra Dattatray Mhaiskar and 2 other company officials are being investigated by federal police in connection with the murder of Satish Shetty, an official of the Central Bureau of Investigation told Reuters.
They have been asked to take a polygraph lie-detector test and the results will be known in June, said the official, who did not want to be named said.
Mhaiskar, who ranked 78th on Forbes' 2011 list of the richest Indians, denied any connection to the murder.
"I am pleading innocence in the case, I am not at all connected any how," he told Reuters.
Shetty died after being attacked with swords by unknown assailants whilst on a morning walk two years ago, according to media reports from the time.
They described him as a man who used India's Right To Information Act to expose corruption, and that he had been investigating possible land-grabbing along an expressway operated by IRB Infrastructure.
The Right to Information Act of 2005 allows citizens access to information under the control of public authorities.
The Mumbai-Pune six-lane 95-km long expressway is India's first expressway, and was completed in 2002, halving the travel time between the two cities in the western state of Maharashtra and is IRB's signature project as an operator.
In a statement to the stock exchange, the company said Mhaiskar had been cleared by a previous local police investigation, and that he and other company officials had agreed to the CBI's latest demand for a polygraph test as they were confident of their "non-involvement" in the matter.
Mhaiskar said the investigation would have no bearing on the road developer, of which he said he owns 60 per cent. Ahead of Thursday's share price drop, IRB was India's fourth-largest construction company by market capitalisation, worth $1.06 billion.
"This case has nothing to do with the company," he said by mobile phone.
The company held a conference call with analysts on Thursday afternoon in a bid to calm market nerves, but investors remain worried about the potential impact on the company.
"We believe this is a negative development against the company's growth prospects since Mr. Virendra Mhaiskar is the key personnel in driving the business," Rajeev Desai, analyst with IFCI Financial Services, said in a note to clients.
IRB operates mainly in India's road sector through several special purpose vehicles. According to its website, the company has built or operates some 8,000 lane kms of road so far. It recently diversified into real estate development and has land reserves of about 1,200 acres in Pune to build a township.
The company is due to announce annual results for the year to March 2012 on May 9. According to Thomson Reuters I/B/E/S, analysts forecast the company to post net profit of 4.89 billion rupees, 8 per cent more than a year ago.
source:agency
India's first oceanarium to come up in Greater Noida
NEW DELHI: In another first for the National Capital Region (NCR), the country's first oceanarium is all set to open in Greater Noida by the year-end.
Developed as a part of a Venetian-themed tourist resort named 'Grand Venice', the $9 million Blue Planet aquarium is being developed as a joint venture between Indian real estate developers, the Bhasin group and Singaporean leisure and tourism company, Andover Leisure.
The project started with a desire to create something truly world class. I believe the Blue Planet will be a recreational, entertaining and educational destination," Bhasin group Managing Director, S.S. Bhasin said.
"The project started 4 years back and is nearing completion. We believe that the aquarium will be inaugurated in one go with the rest of the resort, by the year end," he added.
"People will get to see aquatic wonders such as sharks, penguins, walrus, octopus and dolphins," Bhasin said, about the major attractions of the public aquarium.
The aquarium will cover an area of 1 lakh square feet and the major exhibits will include huge sea-water tanks for large marine life like sharks and lion fish with acrylic tunnels for the tourists to walk through the aquarium itself.
The shark enclosure will have transparent bottomed boats for looking down into the water from the surface.
Besides the real fishe, the installation will also include choreographed underwater performances by entertainers dressed up like mermaids and mermen.
Andover group president, Sindu Hui Han Zhang, said that the oceanarium will be working with the Indian Oceanographic Society. Andover currently runs three public aquaria in China and is also charged with the upkeep and running of the Blue Planet.
Most of the modern oceanaria are usually set up near the sea, where sea water can be drawn naturally. On the other hand, offshore aquaria like Blue Planet maintain the salinity artificially.
The developers hope that the public aquarium will be a unique amusement spot which will draw tourists to itself and the 3 million square feet tourist complex which will also include a 5-star hotel.
source:agency
Developed as a part of a Venetian-themed tourist resort named 'Grand Venice', the $9 million Blue Planet aquarium is being developed as a joint venture between Indian real estate developers, the Bhasin group and Singaporean leisure and tourism company, Andover Leisure.
The project started with a desire to create something truly world class. I believe the Blue Planet will be a recreational, entertaining and educational destination," Bhasin group Managing Director, S.S. Bhasin said.
"The project started 4 years back and is nearing completion. We believe that the aquarium will be inaugurated in one go with the rest of the resort, by the year end," he added.
"People will get to see aquatic wonders such as sharks, penguins, walrus, octopus and dolphins," Bhasin said, about the major attractions of the public aquarium.
The aquarium will cover an area of 1 lakh square feet and the major exhibits will include huge sea-water tanks for large marine life like sharks and lion fish with acrylic tunnels for the tourists to walk through the aquarium itself.
The shark enclosure will have transparent bottomed boats for looking down into the water from the surface.
Besides the real fishe, the installation will also include choreographed underwater performances by entertainers dressed up like mermaids and mermen.
Andover group president, Sindu Hui Han Zhang, said that the oceanarium will be working with the Indian Oceanographic Society. Andover currently runs three public aquaria in China and is also charged with the upkeep and running of the Blue Planet.
Most of the modern oceanaria are usually set up near the sea, where sea water can be drawn naturally. On the other hand, offshore aquaria like Blue Planet maintain the salinity artificially.
The developers hope that the public aquarium will be a unique amusement spot which will draw tourists to itself and the 3 million square feet tourist complex which will also include a 5-star hotel.
source:agency
Pan India Real-Estate booking channel doubles sales with help of Ameyo solution
Gurgaon, Haryana-- Drishti's Ameyo solution serves as the backbone for customer interaction process of DiscountedFlats.com. The latter is a renowned real-estate booking provider in delivering the best property values to its clients pan India and was looking for a robust solution that could handle large volumes of calls in reaching out to customers.
Speaking about the solution, Mr. Aman Gupta, Director, DiscountedFlats.com says "As our business is growing across the nation, we were looking for a tried and tested technology to assist us in our reach-out campaigns and improve customer experience. We chose the all-in-one Ameyo solution from Drishti for the rich features and proven track record. The solution helped us automate our business processes thereby increasing our productivity as well as quality of our customer interactions. Within 3 months our sales doubled and we increased our strength from 20 to 40 agents, far exceeding our initial expectation."
The real-estate sector is growing hand in hand with the exponential growth of the Indian economy, with more mobile and financially astute individuals looking to procure an asset for their own use or investment purposes. Digish Shah, Business Manager - West India says "Businesses are different now than they were years before. Consumers are sensitive towards quality of service deliveries, with easy access to information, customer voice is more relevant and affects perceived value. Businesses are always smart and adapt to customer demands, with a central focus on providing localized and personalized services."
In order to address the need of localized service to its customers, Drishti offered the Ameyo solution to automate processes, allowing DiscountedFlats.com to reach a large number of customers all over the country. Additionally, they were benefited with intelligent call routing, IVR and an integrated CIM (Customer Interaction Management) system, enabling their agents to deliver the best customer experience to prospects in every location.
About DiscountedFlats.com:
Discountedflats (DF) is a Pan-India group booking channel, which groups individual residential buyers based across India. DFs USP is "customer empowerment" including tangible discounts, state-of-the-art services, single source for the residential primary market of the country, and advanced analytics.
About Drishti:
Drishti is a leading provider of Contact Center Software and Enterprise Communications Applications. Drishti offers communications solutions that empower enterprises to dynamically manage Business Processes, Interactions, Workforce and Service Levels on emerging Unified Communications (IP Telephony, Unified Messaging, Conferencing, Presence Management, and Application Collaboration), SOA (Service Oriented Architecture), and SaaS (Software as a Service). Cutting-edge technologies from Drishti have been designed to add value to the businesses and pave way for a structured growth. Their customers enjoy significant benefits in terms of increase in efficiency levels, reduction in operational costs, flexibility to grow, consistent user experience and a demonstrable ROI.
Speaking about the solution, Mr. Aman Gupta, Director, DiscountedFlats.com says "As our business is growing across the nation, we were looking for a tried and tested technology to assist us in our reach-out campaigns and improve customer experience. We chose the all-in-one Ameyo solution from Drishti for the rich features and proven track record. The solution helped us automate our business processes thereby increasing our productivity as well as quality of our customer interactions. Within 3 months our sales doubled and we increased our strength from 20 to 40 agents, far exceeding our initial expectation."
The real-estate sector is growing hand in hand with the exponential growth of the Indian economy, with more mobile and financially astute individuals looking to procure an asset for their own use or investment purposes. Digish Shah, Business Manager - West India says "Businesses are different now than they were years before. Consumers are sensitive towards quality of service deliveries, with easy access to information, customer voice is more relevant and affects perceived value. Businesses are always smart and adapt to customer demands, with a central focus on providing localized and personalized services."
In order to address the need of localized service to its customers, Drishti offered the Ameyo solution to automate processes, allowing DiscountedFlats.com to reach a large number of customers all over the country. Additionally, they were benefited with intelligent call routing, IVR and an integrated CIM (Customer Interaction Management) system, enabling their agents to deliver the best customer experience to prospects in every location.
About DiscountedFlats.com:
Discountedflats (DF) is a Pan-India group booking channel, which groups individual residential buyers based across India. DFs USP is "customer empowerment" including tangible discounts, state-of-the-art services, single source for the residential primary market of the country, and advanced analytics.
About Drishti:
Drishti is a leading provider of Contact Center Software and Enterprise Communications Applications. Drishti offers communications solutions that empower enterprises to dynamically manage Business Processes, Interactions, Workforce and Service Levels on emerging Unified Communications (IP Telephony, Unified Messaging, Conferencing, Presence Management, and Application Collaboration), SOA (Service Oriented Architecture), and SaaS (Software as a Service). Cutting-edge technologies from Drishti have been designed to add value to the businesses and pave way for a structured growth. Their customers enjoy significant benefits in terms of increase in efficiency levels, reduction in operational costs, flexibility to grow, consistent user experience and a demonstrable ROI.
Nigerian telecom regulator has ranked Airtel Nigeria -- as the best operator
New Delhi: Nigerian telecom regulator has ranked Indian telecom giant Bharti Airtel's Nigerian unit -- Airtel Nigeria -- as the best operator for good quality of service.
Of the four GSM operators in Nigeria, Airtel recorded the best performances in call set up success rate, call completion rate, drop call rate and traffic channel congestion, the audit report for March and April 2012 posted on Nigerian Communications Commission (NCC's) website showed.
"We began the journey of building a network with the best quality of service about 18 months ago. I am glad today that our efforts have started yielding positive results," said Rajan Swaroop, chief executive officer and managing director of Airtel Nigeria.
"But this is just the beginning; we will not relent in actualizing our vision of being the most loved brand in the daily lives of Nigerians. We will continue to delight telecom consumers with a robust network and innovative products and services," he added.
Airtel Nigeria recently launched the largest 3.75G network in Nigeria with coverage in 36 states and the Federal Capital Territory (FCT), Abuja.
Earlier during the month, Bharti Airtel had also reported 16 percent growth in revenue in its Africa operations at $1.2 billion during the quarter ended March 31 over the like period of the previous financial year.
The firm's customer base crossed 53 million mark with the addition of 2.2 million customers during the same quarter.
Bharti Airtel in 2010 had inked a multi-billion deal to acquire the African assets of Kuwait's Zain in what made the combined entity the world's fifth largest mobile telephony firm. Though the firm's revenue has steadily grown in Africa, it is yet to make a profit.
source:agency
Of the four GSM operators in Nigeria, Airtel recorded the best performances in call set up success rate, call completion rate, drop call rate and traffic channel congestion, the audit report for March and April 2012 posted on Nigerian Communications Commission (NCC's) website showed.
"We began the journey of building a network with the best quality of service about 18 months ago. I am glad today that our efforts have started yielding positive results," said Rajan Swaroop, chief executive officer and managing director of Airtel Nigeria.
"But this is just the beginning; we will not relent in actualizing our vision of being the most loved brand in the daily lives of Nigerians. We will continue to delight telecom consumers with a robust network and innovative products and services," he added.
Airtel Nigeria recently launched the largest 3.75G network in Nigeria with coverage in 36 states and the Federal Capital Territory (FCT), Abuja.
Earlier during the month, Bharti Airtel had also reported 16 percent growth in revenue in its Africa operations at $1.2 billion during the quarter ended March 31 over the like period of the previous financial year.
The firm's customer base crossed 53 million mark with the addition of 2.2 million customers during the same quarter.
Bharti Airtel in 2010 had inked a multi-billion deal to acquire the African assets of Kuwait's Zain in what made the combined entity the world's fifth largest mobile telephony firm. Though the firm's revenue has steadily grown in Africa, it is yet to make a profit.
source:agency
Canadian smartphone maker Research in Motion (RIM) will launch around 15 BlackBerry premium stores
New Delhi: Canadian smartphone maker Research in Motion (RIM) will launch around 15 BlackBerry premium stores across the country by the end of this year to expand its business in India.
The firm launched a store in Gurgaon today. It had opened one in Delhi last month.
"We will be launching almost 10 to 15 BlackBerry premium stores by the end of the year covering all the top metros including Mumbai, Chennai, Kolkata, Hyderabad, Ahmedabad and Bangalore," Sunil Dutt, managing director, RIM India,said.
"These stores will offer holistic consumer experience on BlackBerry consumer and enterprise services," he added.
These stores would be having special zones featuring consumer and enterprise applications along with product service and a demo zone to highlight the qualities of BlackBerry smartphones.
RIM also has over 5,000 retail points of presence across the country.
Earlier this year the firm slashed prices of its handsets by up to 26 percent. While in December last year, it had reduced the price of its PlayBook by more than half. RIM also had global launch of its latest smartphone BlackBerry 9220 in India.
Asked about its aggressive plans, Dutt said India with its growing youth population is a huge market.
"In the recent past there has been a huge adoption of BlackBerry services, specially messenger services among Indian youth, and we are among the most aspirational brands here," said Dutt.
According to data by IT research firm CyberMedia, smartphone sales in India surged 87 percent at 11.2 million units in 2011 over the previous year.
Nokia was the leader in the smartphones segment with 38 percent market share, followed by Samsung with 28 percent in calender year 2011. RIM stood at the third place with a 15 percent share.
source:agency
The firm launched a store in Gurgaon today. It had opened one in Delhi last month.
"We will be launching almost 10 to 15 BlackBerry premium stores by the end of the year covering all the top metros including Mumbai, Chennai, Kolkata, Hyderabad, Ahmedabad and Bangalore," Sunil Dutt, managing director, RIM India,said.
"These stores will offer holistic consumer experience on BlackBerry consumer and enterprise services," he added.
These stores would be having special zones featuring consumer and enterprise applications along with product service and a demo zone to highlight the qualities of BlackBerry smartphones.
RIM also has over 5,000 retail points of presence across the country.
Earlier this year the firm slashed prices of its handsets by up to 26 percent. While in December last year, it had reduced the price of its PlayBook by more than half. RIM also had global launch of its latest smartphone BlackBerry 9220 in India.
Asked about its aggressive plans, Dutt said India with its growing youth population is a huge market.
"In the recent past there has been a huge adoption of BlackBerry services, specially messenger services among Indian youth, and we are among the most aspirational brands here," said Dutt.
According to data by IT research firm CyberMedia, smartphone sales in India surged 87 percent at 11.2 million units in 2011 over the previous year.
Nokia was the leader in the smartphones segment with 38 percent market share, followed by Samsung with 28 percent in calender year 2011. RIM stood at the third place with a 15 percent share.
source:agency
Demand for mobile phone handsets in the country is likely to reach 250 million
New Delhi: The demand for mobile phone handsets in the country is likely to reach 250 million in 2014 with an estimated value of Rs.54,000 crore, Minister of State for Communications and IT Milind Deora told parliament today.
The demand will reach to 250 million in volume while in value terms, the same will stand at Rs.54,000 crore, the minister told the Rajya Sabha in a written reply, citing Indian Cellular Association (ICA) projected statistics.
According to the estimates, in the year 2012, the demand will reach to 200 million in volume term at a rate of growth of 11 percent, while in value term, the same will stand at Rs.43,000 crore.
The data also said that the demand for mobile handsets in the country has grown by 20 percent to 180 million in 2011 as compared to 150 million for 2010, while in value term the same stands at Rs.38,200 crore in 2011 as compared to Rs.34,500 crore in 2010.
source:agency
The demand will reach to 250 million in volume while in value terms, the same will stand at Rs.54,000 crore, the minister told the Rajya Sabha in a written reply, citing Indian Cellular Association (ICA) projected statistics.
According to the estimates, in the year 2012, the demand will reach to 200 million in volume term at a rate of growth of 11 percent, while in value term, the same will stand at Rs.43,000 crore.
The data also said that the demand for mobile handsets in the country has grown by 20 percent to 180 million in 2011 as compared to 150 million for 2010, while in value term the same stands at Rs.38,200 crore in 2011 as compared to Rs.34,500 crore in 2010.
source:agency
Apple will drop Google Maps from its upcoming mobile platform iOS 6
San Francisco: Apple will drop Google Maps from its upcoming mobile platform iOS 6 in favour of its own mapping system, it was reported on Friday.
The application design is said to be fairly similar to the current Google Maps programme on the iPhone, iPad and iPod touch, but it is described as a much cleaner, faster and more reliable experience, said technology news website 9to5mac, citing its sources.
Over the last few years, Apple has been acquiring mapping companies like Placebase, C3 Technologies and Poly9. The acquisitions enable Apple to create a complete mapping database of its own instead of relying on Google's solutions, reported Xinhua.
The most important aspect of the new Apple Maps application, according to the report, is a powerful 3D mode, which is technology straight from C3 Technologies, a Swedish company Apple bought last year.
Apple has been gradually pushing Google Maps away. Last week, Apple acknowledged that its iOS iPhoto app, a photo-sorting tool for the iPad and iPhone, had switched from Google Maps data to OpenStreetMap data since March. The app uses mapping data to display the shoot location of geotagged photos.
Apple is scheduled to hold its annual Worldwide Developers Conference in San Francisco from June 11 to 15. The key announcement at this year's conference is expected to be iOS 6, the sixth generation of its mobile operating system.
source:agency
The application design is said to be fairly similar to the current Google Maps programme on the iPhone, iPad and iPod touch, but it is described as a much cleaner, faster and more reliable experience, said technology news website 9to5mac, citing its sources.
Over the last few years, Apple has been acquiring mapping companies like Placebase, C3 Technologies and Poly9. The acquisitions enable Apple to create a complete mapping database of its own instead of relying on Google's solutions, reported Xinhua.
The most important aspect of the new Apple Maps application, according to the report, is a powerful 3D mode, which is technology straight from C3 Technologies, a Swedish company Apple bought last year.
Apple has been gradually pushing Google Maps away. Last week, Apple acknowledged that its iOS iPhoto app, a photo-sorting tool for the iPad and iPhone, had switched from Google Maps data to OpenStreetMap data since March. The app uses mapping data to display the shoot location of geotagged photos.
Apple is scheduled to hold its annual Worldwide Developers Conference in San Francisco from June 11 to 15. The key announcement at this year's conference is expected to be iOS 6, the sixth generation of its mobile operating system.
source:agency
TresVista Financial Services Appoints former Apollo Partner, Lukas Kolff and former CIO of Templeton MENA, Joe Kawkabani to its Advisory Board
Mumbai, Maharashtra -- TresVista Financial Services, a leading provider of high-end research and customized financial services, is pleased to announce the appointment of Lukas Kolff, Managing Partner at Bowline Capital Partners, and Joe Kawkabani, former Chief Investment Officer of MENA Equity Investments at Franklin Templeton to its Advisory Board. The appointment of Lukas and Joe to the Advisory Board comes at a time when TresVista has developed a global client base across verticals and is looking to expand its service offerings. This development is expected to add tremendous value to the firm in terms of further strengthening its capabilities as well as adding depth and strategic insight.
Speaking on the development, Sudeep Mishra, Co-Founder and Managing Director of TresVista, said, "Lukas and Joe bring with them immense experience in all aspects of the private equity, asset management, and investment banking industries, which form the core of our client base at TresVista. As clients, they have had first-hand experience of TresVista's expertise and service capabilities. That they have chosen to be a part of the Advisory Board is a testament to the success of TresVista's platform."
"I am happy to welcome Joe and Lukas to the team and am confident that their guidance and expertise will add immense value to TresVista going forward," Abilash Jaikumar, Co-founder and Managing Director, added. "Today we have dozens of customers we work with on a regular basis and our plan is to continue to support them while introducing our services to new clients in all parts of the world."
"I am excited to join the Advisory Board of TresVista", said Lukas. "I see the future of the Company as a leading financial services provider driven by exceptional service quality and great value for its clients by having a flexible business model. TresVista has a first class reputation for quality and excellently trained staff and is uniquely positioned for rapid growth. I enjoy working with the talented TresVista team and supporting them with their continued growth."
"As a client of TresVista since its early days, I have seen the firm grow rapidly," said Joe. "In a very short time, TresVista has developed strong goodwill across the MENA region and I'm happy to support its experienced management to replicate this success in other geographies. I look forward to working with TresVista and helping them grow their service offering as demand for such services continues to evolve."
About Lukas Kolff
Lukas Kolff is the Managing Partner at Bowline Capital Partners, an investment and business advisory boutique based in London. Previously, he was a partner at Apollo and prior to that he worked at Ripplewood and Morgan Stanley. Lukas sits on the boards of several businesses including Cellpoint, Global Shares, Imprima, and Joto Sake.
About Joe Kawkabani
Joe Kawkabani was the Co-Founder of Algebra Capital, based in Dubai, and served as its Chief Investment Officer after its acquisition by Franklin Templeton. Prior to that, Joe headed Equity Asset Management at SHUAA Capital. Before joining SHUAA, Joe was an investment advisor at Arab Finance Corporation in Beirut.
About TresVista Financial Services
With offices in Mumbai and London, TresVista is a leading provider of high-end research, analytics and other customized financial services ranging from valuation analysis, financial modeling and knowledge process outsourcing to advisory work, research, and due diligence. Its clients include several of the most recognized financial institutions around the world across various sectors including asset management, investment banks, research houses, corporates, and consulting firms. www.tresvista.com
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Speaking on the development, Sudeep Mishra, Co-Founder and Managing Director of TresVista, said, "Lukas and Joe bring with them immense experience in all aspects of the private equity, asset management, and investment banking industries, which form the core of our client base at TresVista. As clients, they have had first-hand experience of TresVista's expertise and service capabilities. That they have chosen to be a part of the Advisory Board is a testament to the success of TresVista's platform."
"I am happy to welcome Joe and Lukas to the team and am confident that their guidance and expertise will add immense value to TresVista going forward," Abilash Jaikumar, Co-founder and Managing Director, added. "Today we have dozens of customers we work with on a regular basis and our plan is to continue to support them while introducing our services to new clients in all parts of the world."
"I am excited to join the Advisory Board of TresVista", said Lukas. "I see the future of the Company as a leading financial services provider driven by exceptional service quality and great value for its clients by having a flexible business model. TresVista has a first class reputation for quality and excellently trained staff and is uniquely positioned for rapid growth. I enjoy working with the talented TresVista team and supporting them with their continued growth."
"As a client of TresVista since its early days, I have seen the firm grow rapidly," said Joe. "In a very short time, TresVista has developed strong goodwill across the MENA region and I'm happy to support its experienced management to replicate this success in other geographies. I look forward to working with TresVista and helping them grow their service offering as demand for such services continues to evolve."
About Lukas Kolff
Lukas Kolff is the Managing Partner at Bowline Capital Partners, an investment and business advisory boutique based in London. Previously, he was a partner at Apollo and prior to that he worked at Ripplewood and Morgan Stanley. Lukas sits on the boards of several businesses including Cellpoint, Global Shares, Imprima, and Joto Sake.
About Joe Kawkabani
Joe Kawkabani was the Co-Founder of Algebra Capital, based in Dubai, and served as its Chief Investment Officer after its acquisition by Franklin Templeton. Prior to that, Joe headed Equity Asset Management at SHUAA Capital. Before joining SHUAA, Joe was an investment advisor at Arab Finance Corporation in Beirut.
About TresVista Financial Services
With offices in Mumbai and London, TresVista is a leading provider of high-end research, analytics and other customized financial services ranging from valuation analysis, financial modeling and knowledge process outsourcing to advisory work, research, and due diligence. Its clients include several of the most recognized financial institutions around the world across various sectors including asset management, investment banks, research houses, corporates, and consulting firms. www.tresvista.com
* Tools
* Printer Friendly Version
* Download as PDF
* Subscribe to News Feed
* Bookmark for later
* Share it with others
* For more information, please contact:
* TresVista Financial Services
*
o Amit Mehra
o Senior Associate - Business Development
o Email
* Download Attachments
* TresVista Financial Services is a leading provider of high-end research, analytics and other customized financial servicesTresVista Financial Services is a leading provider of high-end research, analytics and other customized...
Journalists and Bloggers
Visit India PRwire for Journalists for releases, photos, email alerts and customized feeds just for Media.
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PAYMATE LAUNCHES PAYPOS - INDIA'S FIRST CARD PAYMENT ACCEPTANCE MOBILE APPLICATION
Mumbai, Maharashtra-- PayMate India Pvt. Ltd., the country's leading mobile payments company, have officially launched for the first time in India, the PayPOS application, which allows small businesses to accept and process electronic transactions using credit and debit cards directly on their mobile phones at the point of sale (POS) itself. In the market for more than a month, the application has no setup fee, rentals, variable fees or minimum transaction threshold.
Anyone with a Smartphone can sign up with PayPOS and begin transactions immediately. To charge, the merchant just needs to enter the mobile number and the amount on the screen. The customer then enters the card details and the secure password. The transaction is then processed in real time.
The application has already seen over 25,000 downloads. Many merchants who have signed up use multiple locations to interface with their customers and lose out on sales when customers were not carrying enough cash or cheques for payment. Charging customers' cards on the move can help settle transactions immediately and also have sales logged and tracked in the application. Merchants also have access to data such as transaction history and other reports on their mobile device as well as online on a merchant center making all sale related information available at his fingertips.
Another important feature is that this allows for a customer sitting at a remote location asking for a product or service delivery, make payment at the time of delivery.
"With the PayPOS first of its kind application launched in India for smartphones, transactions-on-the-move will be a suitable option for small businesses with smartphones, especially those who need mobility. Businesses in the unorganized retail sector will benefit tremendously from the services of this application. According to the latest research, there were 21 million smartphones in India as of January 2012 and the numbers are going to increase manifold in the next few years. This is an indicator of the potential of the application and more that Paymate has to offer" said PayMate Founder and Managing Director, Ajay Adiseshann.
To know more about PayPOS, you can visit www.paypos.com
About India Mobiles and Payment Landscape
A strong growth of the smartphones is imminent with a 21 million smartphones already accounted for as of Jan 2012 (Canalys Research, Jan 2012). The IDC forecasts this figure to rise upto 81.5 million by 2015 whereas the average price would be Rs. 5000 within 12 months. Android is deemed to be the dominant platform for the phones to operate on.
About Indian Retail and POS landscape
In a recent study the organized retail market was pegged at $ 26 billion in 2011, with an estimate of $84 billion by 2016. On the other hand the unorganized segment came at a figure of $ 444 billion as per 2011 and was estimated to go up to $ 591 billion 2016. The top 5 categories in terms of growth were Health and Fitness by a margin of 20% followed by Beauty Services (18%), Consumer Electronics (13.5%) and Furnishing and Furnitures (13.5%).
The POS industry is fast growing with huge potential, with figures of only 5,76,000 terminals for over 20 million merchants.
Source: Technopak "Emerging Trends in India Retail & Consumer 2011
About PayMate
PayMate is a wireless transactions platform provider with a first-of-its-kind mobile payment platform which lets you link your mobile phone to a bank account, credit card or a prepaid account - turning your mobile phone into a secure payment tool to be used anytime, anywhere.
PayMate's hybrid SMS and IVR based transaction platform along with its BREW and j2ME application suite offers unparalleled simplicity making it usable on even the most basic handsets, across all telecom operators. PayMate's list of security certifications includes compliances such as PCI DSS 1.2, PA-DSS 1.2 and Govt. Of India's Cert-in, certifying its systems, processes and infrastructure with banking grade security.
PayMate has operations in USA, UAE, Sri Lanka, Nepal, Africa & Eastern Europe and an ecosystem of over 15,000 merchants offering mobile payments to their customers. PayMate has tie-ups with over 30 banks including SBI, ICICI Bank, IDBI Bank, Standard Chartered Bank, Corporation Bank, Royal Bank of Scotland to name a few, and has also tied up with Galileo to offer its 6,000+ agents a remote payment collection solution via mobile. In the US PayMate has partnered with leading transaction service provider-TSYS to offer merchant mobile POS solutions and is steadily foraying into mobile money transfer as part of its inclusive banking roll-outs.
To know more visit www.paymate.in or contact
Imprimis PR, Clayton Dsouza - 99300 11602 or email - cdsouza@imprimispr.com
Anyone with a Smartphone can sign up with PayPOS and begin transactions immediately. To charge, the merchant just needs to enter the mobile number and the amount on the screen. The customer then enters the card details and the secure password. The transaction is then processed in real time.
The application has already seen over 25,000 downloads. Many merchants who have signed up use multiple locations to interface with their customers and lose out on sales when customers were not carrying enough cash or cheques for payment. Charging customers' cards on the move can help settle transactions immediately and also have sales logged and tracked in the application. Merchants also have access to data such as transaction history and other reports on their mobile device as well as online on a merchant center making all sale related information available at his fingertips.
Another important feature is that this allows for a customer sitting at a remote location asking for a product or service delivery, make payment at the time of delivery.
"With the PayPOS first of its kind application launched in India for smartphones, transactions-on-the-move will be a suitable option for small businesses with smartphones, especially those who need mobility. Businesses in the unorganized retail sector will benefit tremendously from the services of this application. According to the latest research, there were 21 million smartphones in India as of January 2012 and the numbers are going to increase manifold in the next few years. This is an indicator of the potential of the application and more that Paymate has to offer" said PayMate Founder and Managing Director, Ajay Adiseshann.
To know more about PayPOS, you can visit www.paypos.com
About India Mobiles and Payment Landscape
A strong growth of the smartphones is imminent with a 21 million smartphones already accounted for as of Jan 2012 (Canalys Research, Jan 2012). The IDC forecasts this figure to rise upto 81.5 million by 2015 whereas the average price would be Rs. 5000 within 12 months. Android is deemed to be the dominant platform for the phones to operate on.
About Indian Retail and POS landscape
In a recent study the organized retail market was pegged at $ 26 billion in 2011, with an estimate of $84 billion by 2016. On the other hand the unorganized segment came at a figure of $ 444 billion as per 2011 and was estimated to go up to $ 591 billion 2016. The top 5 categories in terms of growth were Health and Fitness by a margin of 20% followed by Beauty Services (18%), Consumer Electronics (13.5%) and Furnishing and Furnitures (13.5%).
The POS industry is fast growing with huge potential, with figures of only 5,76,000 terminals for over 20 million merchants.
Source: Technopak "Emerging Trends in India Retail & Consumer 2011
About PayMate
PayMate is a wireless transactions platform provider with a first-of-its-kind mobile payment platform which lets you link your mobile phone to a bank account, credit card or a prepaid account - turning your mobile phone into a secure payment tool to be used anytime, anywhere.
PayMate's hybrid SMS and IVR based transaction platform along with its BREW and j2ME application suite offers unparalleled simplicity making it usable on even the most basic handsets, across all telecom operators. PayMate's list of security certifications includes compliances such as PCI DSS 1.2, PA-DSS 1.2 and Govt. Of India's Cert-in, certifying its systems, processes and infrastructure with banking grade security.
PayMate has operations in USA, UAE, Sri Lanka, Nepal, Africa & Eastern Europe and an ecosystem of over 15,000 merchants offering mobile payments to their customers. PayMate has tie-ups with over 30 banks including SBI, ICICI Bank, IDBI Bank, Standard Chartered Bank, Corporation Bank, Royal Bank of Scotland to name a few, and has also tied up with Galileo to offer its 6,000+ agents a remote payment collection solution via mobile. In the US PayMate has partnered with leading transaction service provider-TSYS to offer merchant mobile POS solutions and is steadily foraying into mobile money transfer as part of its inclusive banking roll-outs.
To know more visit www.paymate.in or contact
Imprimis PR, Clayton Dsouza - 99300 11602 or email - cdsouza@imprimispr.com
20120509
Ishqzaade stars visit Planet M Jaipur
Jaipur, Rajsthan-- PLANET M it was raining "ISHQZAADE" Yes Indeed, the fans were going bonkers as ISHQZAADE- Parineeti Chopra met Union President of Rajashtan University-Ms. Prabha Chaudhary and they shared about the nuances of college politics in India.The crowd gathered in numbers and were swayed by the live impromptu act by the Dashing Arjun Kapoor to the tune of "Chokra Jawaan" .
Arjun n Parineeti indeed reiterated the fact
"Ishqzaade hai Jitne fasaanon mein , milte hain kahaan ab jahanoon mein "
Arjun n Parineeti indeed reiterated the fact
"Ishqzaade hai Jitne fasaanon mein , milte hain kahaan ab jahanoon mein "
"Birth of a shining new star in Bhopal - Aashima Mall"
Mumbai, Maharashtra -- Celebrations were held at Aashima Mall as they get ready to serve the public. Aashima Mall will be a landmark, destination point with benchmark amenities and innovations incorporated to give a never-before shopping and entertainment experience to all the Bhopal fun loving people.
The celebrations started in the evening with the chief guest Shri Ishwardas Rohani, Speaker, MP state Legislative assembly and Guest of Honour , Shri Babulal Gaur, Minsiter of Urban Administration, GoMP, lighting the Diya. Then the programme was followed by a glittering live performance by Sandeep, Acharya, Winner, Indian Idol 2 and band.
The sparkling live performance filled the atrium with echo of "once more, once more".Sandeep Acharya enthralled the audiences with Zara Zara from the movie Rehna Hain Tere Dil Mein , Papa Kehte Hain from the movie Qayamat Se Qayamat Tak and many more. The audience feels to be present in some concert in Mumbai or Delhi.
Sandeep Acharya, Winner, Indian Idol 2 uttered, "The audience of Bhopal is marvelous. Even I enjoyed the most performing in front of such amazing spectators. They were getting utmost pleasure and were demanding for more and more. The interior of the mall is incredible. It will serve as the most promising place for the shopholics of Bhopal in Future."
Shri Rohani said, "The Aashima Mall is shaping up to be the most vibrant shopping destination in Bhopal, spreading over 6 lac sq. ft. A huge airy atrium across all floors provides proper visibility to each shop".
"Aashima Mall is the second mall of Bhopal & will provide a new experience ofentertainment, food, gaming, movies & shopping. The launching was huge. The live performance by Sandeep Acharya was awesome. They were equally like the performances of experienced holder" Shri Gaur Ji expressed their precious views.
Shri Vishwas Sarang , MLA & Chairman , MP Laghu Vanopaj Nigam, Bhopal and Smt. Krishna Gaur , Mayor, Bhopal were also present on the launch party and feels very delighted after seeing the arrangements by the host. Aashima Mall, which has been witnessing heavy footfalls with the opening of Reliance MART since April 13th, will soon be a centre of attraction for the people of Bhopal with the opening of a 7-screen multiplex and food court and restaurants next month.
Mr. Jaisooraj Nambiar , Director, Aashima Mall said, "Aashima Mall has been the most awaited mall for a population of about 13 Lakh people living in new Bhopal. We hope we are able to cater to their requirements of entertainment and shopping with the best in class brands.Very soon you will see the whole of Bhopal shopping here."
Aashima, City's hottest upcoming destination will transform the shopping culture from being cumbersome to a fun experience by offering shoppers and commuters an excellent combination of entertainment and shopping. The Idea behind Aashima mall being located at Hoshangabad Road (NH-12) is to discover the true untapped potential of huge no. of prospective buyers who are starved for the right venue to shop. It is the need of the moment for the cities shoppers to have a world class mall that matches their taste & aspirations.
The mall is unique in its own way and is being built to give maximum visibility to each store. Well-planned stores and scientific layout with a massive atrium allow appropriate distribution of space for different sections.
The celebrations started in the evening with the chief guest Shri Ishwardas Rohani, Speaker, MP state Legislative assembly and Guest of Honour , Shri Babulal Gaur, Minsiter of Urban Administration, GoMP, lighting the Diya. Then the programme was followed by a glittering live performance by Sandeep, Acharya, Winner, Indian Idol 2 and band.
The sparkling live performance filled the atrium with echo of "once more, once more".Sandeep Acharya enthralled the audiences with Zara Zara from the movie Rehna Hain Tere Dil Mein , Papa Kehte Hain from the movie Qayamat Se Qayamat Tak and many more. The audience feels to be present in some concert in Mumbai or Delhi.
Sandeep Acharya, Winner, Indian Idol 2 uttered, "The audience of Bhopal is marvelous. Even I enjoyed the most performing in front of such amazing spectators. They were getting utmost pleasure and were demanding for more and more. The interior of the mall is incredible. It will serve as the most promising place for the shopholics of Bhopal in Future."
Shri Rohani said, "The Aashima Mall is shaping up to be the most vibrant shopping destination in Bhopal, spreading over 6 lac sq. ft. A huge airy atrium across all floors provides proper visibility to each shop".
"Aashima Mall is the second mall of Bhopal & will provide a new experience ofentertainment, food, gaming, movies & shopping. The launching was huge. The live performance by Sandeep Acharya was awesome. They were equally like the performances of experienced holder" Shri Gaur Ji expressed their precious views.
Shri Vishwas Sarang , MLA & Chairman , MP Laghu Vanopaj Nigam, Bhopal and Smt. Krishna Gaur , Mayor, Bhopal were also present on the launch party and feels very delighted after seeing the arrangements by the host. Aashima Mall, which has been witnessing heavy footfalls with the opening of Reliance MART since April 13th, will soon be a centre of attraction for the people of Bhopal with the opening of a 7-screen multiplex and food court and restaurants next month.
Mr. Jaisooraj Nambiar , Director, Aashima Mall said, "Aashima Mall has been the most awaited mall for a population of about 13 Lakh people living in new Bhopal. We hope we are able to cater to their requirements of entertainment and shopping with the best in class brands.Very soon you will see the whole of Bhopal shopping here."
Aashima, City's hottest upcoming destination will transform the shopping culture from being cumbersome to a fun experience by offering shoppers and commuters an excellent combination of entertainment and shopping. The Idea behind Aashima mall being located at Hoshangabad Road (NH-12) is to discover the true untapped potential of huge no. of prospective buyers who are starved for the right venue to shop. It is the need of the moment for the cities shoppers to have a world class mall that matches their taste & aspirations.
The mall is unique in its own way and is being built to give maximum visibility to each store. Well-planned stores and scientific layout with a massive atrium allow appropriate distribution of space for different sections.
CHD brings Spanish architecture to Karnal, Launches Lifestyle Premiere Floors
Karnal, Haryana -- CHD Developers Limited, one of Delhi's leading real estate developers announces the launch of "Lifestyle Premier" at its integrated township, CHD City in Karnal. These independent floors have a unique blend of Spanish architecture coupled with harmonious interiors and are located strategically in the thriving township, easily accessible from NH-1. Special emphasis has been given to the architecture and planning to ensure that residents enjoy the benefit of ample living space and luxury.
Speaking at the launch of "Lifestyle Premier", Mr. Gaurav Mittal, MD, CHD Developers said, "CHD Developers Ltd. is constantly striving to offer their consumers the lifestyle that they have always aspired for. The township, being one of a kind in the area, provides world class facilities to its residents. These newly launched Independent floors are the latest offering in the bustling and lively CHD City. An ode to the Spanish aura, these premiere floors promises its residents the unmatched lifestyle that will redefine classy living."
The floor designs of Lifestyle Premiere are class apart and each floor is designed to give you the freedom to grow and flourish in a gated community. The floors are G+2 in design and a part of the exclusive planned community which has an urban layout with street furniture, signage and road lighting. The floors exude rich exteriors in earthy colours. The floors provide kitchen gardens and balconies a la Spanish style. It epitomizes and redefines luxury, quality and craftsmanship.
The planning for the project is environment friendly and the township is flanked with open spaces which are considered as a luxury in today's times. With the launch of Lifestyle Premier Floors, CHD City can be classified as one of the biggest and most luxurious wholesome living experiences in Karnal.
About CHD City:
CHD City Karnal is a step ahead from other townships with the world class infrastructure and luxurious amenities and facilities it offers to its residents. To give it a contemporary feel, architecture and landscaping has been given special emphasis. World renowned town-planner, Sanjay Puri has done the master planning of the township. The result is a space that is exhilarating to experience while being functional and tranquil.
Township offers landscaped parks, schools, health care centers, food and entertainment zones, all within the township. The township is equipped with two-tier security.
CHD Developers has also joined hands with Educomp Infrastructure and School Management Ltd. to set up a state-of-the-art "The Millennium School" within the township. While the school will offer the residents of Karnal a high quality education in sync with top class technology, the kids in CHD City will enjoy the unique "walk to school" concept.
The lush green 5 acres Central Park is which is as much as the size of a full fledged football stadium. This lavish landscaped green will transport you to a world far from the concrete jungle. The manicured Central Park is ready with soft scaping which has added to the beauty, colour and character of the park. The hard scaping is in progress which will add style elegance and a touch of class to the park.
Life can be fun only if it is healthy, calm and convenient. CHD City makes it possible with even medical facilities available within the environs. A renowned healthcare chain from Delhi has agreed to set up a world class hospital in CHD City. It will be a 200-bed multi-specialty hospital. Special facilities will be extended to the denizens of the township.
Keeping in mind today's lifestyle, there is a multi-cuisine food court planned in the city spread over 20,000 sq. ft. Leading food & restaurant brand Haldiram's has signed to be part of the food court. The other brands will follow the suit. The expanse is large and the interesting architecture makes the overall experience interesting and worthwhile. Tranquil water bodies, exotica flora and fauna, kid's zone apart from other world class amenities will enthrall the visitors
With a slew of modern facilities and services offered, CHD City, Karnal is a truly comfortable living experience.
Speaking at the launch of "Lifestyle Premier", Mr. Gaurav Mittal, MD, CHD Developers said, "CHD Developers Ltd. is constantly striving to offer their consumers the lifestyle that they have always aspired for. The township, being one of a kind in the area, provides world class facilities to its residents. These newly launched Independent floors are the latest offering in the bustling and lively CHD City. An ode to the Spanish aura, these premiere floors promises its residents the unmatched lifestyle that will redefine classy living."
The floor designs of Lifestyle Premiere are class apart and each floor is designed to give you the freedom to grow and flourish in a gated community. The floors are G+2 in design and a part of the exclusive planned community which has an urban layout with street furniture, signage and road lighting. The floors exude rich exteriors in earthy colours. The floors provide kitchen gardens and balconies a la Spanish style. It epitomizes and redefines luxury, quality and craftsmanship.
The planning for the project is environment friendly and the township is flanked with open spaces which are considered as a luxury in today's times. With the launch of Lifestyle Premier Floors, CHD City can be classified as one of the biggest and most luxurious wholesome living experiences in Karnal.
About CHD City:
CHD City Karnal is a step ahead from other townships with the world class infrastructure and luxurious amenities and facilities it offers to its residents. To give it a contemporary feel, architecture and landscaping has been given special emphasis. World renowned town-planner, Sanjay Puri has done the master planning of the township. The result is a space that is exhilarating to experience while being functional and tranquil.
Township offers landscaped parks, schools, health care centers, food and entertainment zones, all within the township. The township is equipped with two-tier security.
CHD Developers has also joined hands with Educomp Infrastructure and School Management Ltd. to set up a state-of-the-art "The Millennium School" within the township. While the school will offer the residents of Karnal a high quality education in sync with top class technology, the kids in CHD City will enjoy the unique "walk to school" concept.
The lush green 5 acres Central Park is which is as much as the size of a full fledged football stadium. This lavish landscaped green will transport you to a world far from the concrete jungle. The manicured Central Park is ready with soft scaping which has added to the beauty, colour and character of the park. The hard scaping is in progress which will add style elegance and a touch of class to the park.
Life can be fun only if it is healthy, calm and convenient. CHD City makes it possible with even medical facilities available within the environs. A renowned healthcare chain from Delhi has agreed to set up a world class hospital in CHD City. It will be a 200-bed multi-specialty hospital. Special facilities will be extended to the denizens of the township.
Keeping in mind today's lifestyle, there is a multi-cuisine food court planned in the city spread over 20,000 sq. ft. Leading food & restaurant brand Haldiram's has signed to be part of the food court. The other brands will follow the suit. The expanse is large and the interesting architecture makes the overall experience interesting and worthwhile. Tranquil water bodies, exotica flora and fauna, kid's zone apart from other world class amenities will enthrall the visitors
With a slew of modern facilities and services offered, CHD City, Karnal is a truly comfortable living experience.
Eco Friendly WallArt 3D Panels arrives in India .
Jaipur, Rajasthan -- WallArt will bring your walls to life with their eco friendly 3d-wallpanels made out of the fibrous residue of sugarcane also called bagasse. This fibres of crushed sugarcane stalks, remaining after raw sugar is extracted from the juice of the sugarcane by shredding it, is now the raw material that forms the base of this easily installed eco friendly interior product. The raw material used for WallArt 3d-wallpanels is 100% recycled, compostable and therefore 100% biodegradable. . These panels are 500mm x 500mm each in size and designed to form a distinct pattern when put together. They are glued to the wall with the panels butted together. The joins between panels are then filled and sanded back. After installing them they can be painted in any colour to suit the interior of your home or office.
WallArt 3d wall panels are all made out of a renewable source which is biodegradable and therefore contribute to sustainability. Bagasse, as a residue of sugarcane, is one of the world's most renewable sources because sugarcane can be harvested up to 3 times a year. The total harvest worldwide is more than 1.2 billion metric tons yearly and out of each 3 ton of sugarcane there remains 1 ton of bagasse. By using this recycled raw material we can say this 3d-wallpaper is a real eco decor product.
WallArt introduced their 3d-wallcovering in Europe in 2010. They've been the first entering the market with this eco friendly home decor and interior product. At this moment there are 16 different models of the WallArt 3d wall panels available, for more information about WallArt and their 3d decorating wall panels please go to their website www.mywallart.in and check it out. WallArt 3d decorative wall panels are not only environmentally friendly but the 3d effect give an extra dimension to your walls!
WallArt 3d wall panels are all made out of a renewable source which is biodegradable and therefore contribute to sustainability. Bagasse, as a residue of sugarcane, is one of the world's most renewable sources because sugarcane can be harvested up to 3 times a year. The total harvest worldwide is more than 1.2 billion metric tons yearly and out of each 3 ton of sugarcane there remains 1 ton of bagasse. By using this recycled raw material we can say this 3d-wallpaper is a real eco decor product.
WallArt introduced their 3d-wallcovering in Europe in 2010. They've been the first entering the market with this eco friendly home decor and interior product. At this moment there are 16 different models of the WallArt 3d wall panels available, for more information about WallArt and their 3d decorating wall panels please go to their website www.mywallart.in and check it out. WallArt 3d decorative wall panels are not only environmentally friendly but the 3d effect give an extra dimension to your walls!
Synefra shines at The International Property Awards once again
Pune, Maharashtra -- Leading Integrated Infrastructure Solutions' provider Synefra Engineering & Construction Ltd - a Tanti Group Company has once again been honoured with two recognitions at the International Property Awards 2012 held in Kuala Lumpur on 27th April. This year, Synefra E&C bagged the prestigious awards for its three hi-tech industrial parks located at Coimbatore, Vadodara and Padubudri and the other for the Integrated Wind Component Manufacturing Unit at Tianjin, China. Last year, Suzlon One Earth, a project conceived, managed, and executed by Synefra was the official entry at the World Property Awards under 'Office Development' category.
For nominations, Synefra recommended its 2 projects in Industrial Development category namely its SEZ Program in India and Tianjin Manufacturing facility, China. While the Tianjin, China facility, won the title of "Highly Recommended" in the category of "Industrial Development - China", Synefra's three SEZs located in Coimbatore, Vadodara and Padubidri bagged the five star recognition as the "Best Industrial Development- India". The five stars from various countries then competed with Synefra's SEZ Program emerging as the "Best Industrial Park - Asia Pacific".
Synefra SEZs now qualify to compete in the Industrial Park category against the other 5 regions namely, Africa, Europe, America, Arabia and UK. Amongst these nominations, one will be voted and awarded as the Best in the World in an event which will be organized in UK later this year.
Commenting on the achievement, Mr. JR Tanti, Managing Director, Synefra E&C said, "We are pleased to be honoured at the International Property Awards for the second successive year. This award has indeed catapulted Synefra SEZs into the global arena and brings great responsibility as a corporate to deliver consistent performance and display world class practices. It's a double bonanza for Synefra to be recognized for our Indian SEZ projects and Tianjin, China projects of stature. This award emphasizes Synefra's quality delivery for industrial projects as well."
The Asia Pacific Property Awards are globally headed by the International Property Awards, established 18 years ago and cover industrial, residential as well as commercial categories.
About Synefra Engineering & Construction Ltd:
Synefra Engineering & Construction Ltd - A Tanti Group Company, formerly known as Suzlon Infrastructure Limited was established in 1998 with a focus to conceptualize, invest, develop & maintain Hi-Tech Industrial Infrastructure globally for Suzlon Group companies. With more than a decade of execution expertise, Synefra has today evolved to be an Integrated Infrastructure Solutions provider to different industrial business segments. With experienced professionals comprising of engineers, architects, finance and management specialists, Synefra offers a wide array of specialized services in Efficient Project Management (e-PM), Engineering & Construction (E&C) and Integrated Facility Management Services (i-FM)
For nominations, Synefra recommended its 2 projects in Industrial Development category namely its SEZ Program in India and Tianjin Manufacturing facility, China. While the Tianjin, China facility, won the title of "Highly Recommended" in the category of "Industrial Development - China", Synefra's three SEZs located in Coimbatore, Vadodara and Padubidri bagged the five star recognition as the "Best Industrial Development- India". The five stars from various countries then competed with Synefra's SEZ Program emerging as the "Best Industrial Park - Asia Pacific".
Synefra SEZs now qualify to compete in the Industrial Park category against the other 5 regions namely, Africa, Europe, America, Arabia and UK. Amongst these nominations, one will be voted and awarded as the Best in the World in an event which will be organized in UK later this year.
Commenting on the achievement, Mr. JR Tanti, Managing Director, Synefra E&C said, "We are pleased to be honoured at the International Property Awards for the second successive year. This award has indeed catapulted Synefra SEZs into the global arena and brings great responsibility as a corporate to deliver consistent performance and display world class practices. It's a double bonanza for Synefra to be recognized for our Indian SEZ projects and Tianjin, China projects of stature. This award emphasizes Synefra's quality delivery for industrial projects as well."
The Asia Pacific Property Awards are globally headed by the International Property Awards, established 18 years ago and cover industrial, residential as well as commercial categories.
About Synefra Engineering & Construction Ltd:
Synefra Engineering & Construction Ltd - A Tanti Group Company, formerly known as Suzlon Infrastructure Limited was established in 1998 with a focus to conceptualize, invest, develop & maintain Hi-Tech Industrial Infrastructure globally for Suzlon Group companies. With more than a decade of execution expertise, Synefra has today evolved to be an Integrated Infrastructure Solutions provider to different industrial business segments. With experienced professionals comprising of engineers, architects, finance and management specialists, Synefra offers a wide array of specialized services in Efficient Project Management (e-PM), Engineering & Construction (E&C) and Integrated Facility Management Services (i-FM)
Bank of Maharashtra posts Robust results
Pune, Maharashtra -- Bank of Maharashtra (BoM) today reported a 30% increase in net profit to Rs Rs.430.83 crore for the year ended March 31, 2012. The bank had posted a net profit of Rs330.39 crore for the corresponding year , ,the Net NPA ratio has also reduced to 0.84% from 1.32% in 31.03.2011 , informed Mr Narendra Singh, Chairman and Managing Director,b Bank of Maharashtra, while announcing the annual results of the bank.
Speaking to reporters after the board meeting Mr Singh and the ED of the Bank CVR Rajendran said that The Operating Profit for FY 2011-12 increased to Rs.1515.24 crore as compared to Rs.855.03 crore for FY 2010-11 with a growth rate of 77.21% , while the Total Income increased by Rs.1,760.69 crore recording growth rate of 28.89% over FY 2011. Mr. Singh said that the Net worth of the Bank increased to Rs.3758.03 crore as at 31.03.12 from Rs.2,709.24 crore as at 31.03.11 , while Net Interest Margin (NIM) improved to 3.22% for FY2011-12 from 2.80% for FY 2010-11. We are glad that we have been able to reduce the Gross NPA ratio to 2.28% from 2.47% in the corrsponding year ,the Net NPA ratiohas also reduced to 0.84% from 1.32% in 31.03.2011 . The Bank effected cash recovery and upgradation of NPAs of Rs.487.97 crore during the year ended 31.03.2012. The CASA deposits share in total deposits increased to 41.33% from 40.44% in 2011 , while the Business per employee was at Rs.967.24 lakhs and Profit per employee was at Rs.3.12 lakhs , the total Businesss of the Bank as on 31.03.2012 stood at Rs.1,33,508 crore. The total business increased by Rs.19,176 crore (+16.77%) to Rs.1,33,508 crore from Rs.1,14,332 crore on 31.03.2011 , he added The Total Deposits of the Bank also increased by Rs.9,684 crore to Rs.76,529 crore as on 31.03.2012 from Rs.66,845 crore as on 31.03.2011 recording a growth of 14.49% on y-o-y basis. The y-o-y growth in Advances was 19.99% from Rs.47,487 crore as on 31.03.2011 to Rs.56,979 crore as on 31.03.2012. while the Credit Deposit ratio stood at 74.45%. The Earnings per Share has gone up to Rs.7.59 as at 31.03.2012 from Rs.6.86 in FY 2010-11. The Cost to Income ratio improved to 52.02% for the year ended March 2012 as compared to 65.79% in the previous year. The Yield on Advances increased to 11.44% p.a. as compared to 9.69 % in the previous year. The bank has done well on all fronts , and exceeded the required 40% priority sector lending and also has an 100% achievement of coverage of unbanked villages under Financial Inclusion Plan. BOM was able to establish two more Mahabank Rural Self Employment Training Institutes (MRSETIs) at Thane and Jalna taking total number to seven . Mr Rajendran added that During the year, the Bank opened 53 Branches, 85 ATMs and 102 MGSKs last year , this year the bank planned to open 200 new branches and recruit around 1050 employees .
Speaking to reporters after the board meeting Mr Singh and the ED of the Bank CVR Rajendran said that The Operating Profit for FY 2011-12 increased to Rs.1515.24 crore as compared to Rs.855.03 crore for FY 2010-11 with a growth rate of 77.21% , while the Total Income increased by Rs.1,760.69 crore recording growth rate of 28.89% over FY 2011. Mr. Singh said that the Net worth of the Bank increased to Rs.3758.03 crore as at 31.03.12 from Rs.2,709.24 crore as at 31.03.11 , while Net Interest Margin (NIM) improved to 3.22% for FY2011-12 from 2.80% for FY 2010-11. We are glad that we have been able to reduce the Gross NPA ratio to 2.28% from 2.47% in the corrsponding year ,the Net NPA ratiohas also reduced to 0.84% from 1.32% in 31.03.2011 . The Bank effected cash recovery and upgradation of NPAs of Rs.487.97 crore during the year ended 31.03.2012. The CASA deposits share in total deposits increased to 41.33% from 40.44% in 2011 , while the Business per employee was at Rs.967.24 lakhs and Profit per employee was at Rs.3.12 lakhs , the total Businesss of the Bank as on 31.03.2012 stood at Rs.1,33,508 crore. The total business increased by Rs.19,176 crore (+16.77%) to Rs.1,33,508 crore from Rs.1,14,332 crore on 31.03.2011 , he added The Total Deposits of the Bank also increased by Rs.9,684 crore to Rs.76,529 crore as on 31.03.2012 from Rs.66,845 crore as on 31.03.2011 recording a growth of 14.49% on y-o-y basis. The y-o-y growth in Advances was 19.99% from Rs.47,487 crore as on 31.03.2011 to Rs.56,979 crore as on 31.03.2012. while the Credit Deposit ratio stood at 74.45%. The Earnings per Share has gone up to Rs.7.59 as at 31.03.2012 from Rs.6.86 in FY 2010-11. The Cost to Income ratio improved to 52.02% for the year ended March 2012 as compared to 65.79% in the previous year. The Yield on Advances increased to 11.44% p.a. as compared to 9.69 % in the previous year. The bank has done well on all fronts , and exceeded the required 40% priority sector lending and also has an 100% achievement of coverage of unbanked villages under Financial Inclusion Plan. BOM was able to establish two more Mahabank Rural Self Employment Training Institutes (MRSETIs) at Thane and Jalna taking total number to seven . Mr Rajendran added that During the year, the Bank opened 53 Branches, 85 ATMs and 102 MGSKs last year , this year the bank planned to open 200 new branches and recruit around 1050 employees .
IDBI Bank adjudged winner in Development Finance-Led Poverty Reduction as also received Best Website Awards in the ADFIAP Awards 2012
Mumbai, Maharashtra -- IDBI Bank has been adjudged winner under Development Finance-Led Poverty Reduction category for its "Rural Transformation Fellowship Program (RTFP)" in the ADFIAP (Association of Development Financing Institutions in Asia & the Pacific) Awards 2012 in Istanbul, Turkey. ADFIAP Awards recognize and honor banks which have undertaken and/or assisted projects that have created a development impact in their respective countries. The Bank also received the "Best Website" Award at the ceremony. Shri B.K. Batra, DMD, IDBI Bank receivd the award at the 35th ADFIAP Annual Meetings in Istanbul".
Speaking on the occasion, Shri B K Batra said "Through RTFP, IDBI Bank aims to bring unbanked and under-banked populace within the ambit of formal banking system, thereby increasing their access to formal financial services, opportunities to build savings, make meaningful investments on matters related to their livelihood and harness their earning capacity and entrepreneurial talent. This Award by ADFIAP at a prestigious international forum is recognition of our endeavor to emerge as a bank for all."
Speaking on the occasion, Shri B K Batra said "Through RTFP, IDBI Bank aims to bring unbanked and under-banked populace within the ambit of formal banking system, thereby increasing their access to formal financial services, opportunities to build savings, make meaningful investments on matters related to their livelihood and harness their earning capacity and entrepreneurial talent. This Award by ADFIAP at a prestigious international forum is recognition of our endeavor to emerge as a bank for all."
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